Trading app Robinhood adds dual new cryptocurrencies notwithstanding …

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Despite a indolent cryptocurrency market, batch trade app Robinhood is adding two new digital currencies to the platform.

The association will supplement Litecoin and Bitcoin Cash to the no-fee app, which already lets users trade bitcoin and ethereum.

“Since we launched Robinhood Crypto in February, our business have uttered seductiveness in shopping and offered other cryptocurrencies over Bitcoin and Ethereum,” Robinhood pronounced in a blog post Thursday.

The association also pronounced it has surfaced 5 million users opposite the whole Robinhood platform, helped by “significant movement generated over the last several months with the introduction of Options and Crypto.”

The height combined cryptocurrency trade in February, two months after bitcoin had skyrocketed to scarcely $20,000. It has mislaid 65 percent of the value since the high, and has depressed more than 50 percent this year to around $6,180 as of Thursday morning.

Litecoin, one of the coins being combined to Robinhood Crypto, is down more than 64 percent since Jan and was trade nearby $77 Thursday, according to Coindesk. The other digital banking bitcoin money has forsaken more than 72 percent in the same time frame, and was trade nearby $682 Thursday. The marketplace capitalization of the whole digital banking marketplace has depressed 60 percent this year, according to information from CoinMarketCap.com.

Other renouned trade platforms, including Coinbase have seen vigour from investors looking to trade more cryptocurrencies. Rumors about Coinbase adding XRP to the height pushed up the cost of that cryptocurrency early this year.

Kate Rooney

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