HBAR Price Up 10% After Robinhood Introduces Hedera Spot Trading

Robinhood expanded its crypto offerings by introducing spot trading for Hedera’s native token, HBAR, on its U.S. platform.

The listing represented part of Robinhood’s broader strategy to attract retail investors by including emerging altcoins.

Hedera (HBAR) Trading Now Live on Robinhood

According to a post on the X platform, Robinhood Markets confirmed that HBAR trading is now available on its U.S. platform.

The move allows retail users to buy, sell, and hold Hedera native token without needing third-party wallets or exchanges.

The token runs on Hedera’s distributed ledger technology that employs a hashgraph consensus mechanism.

This model is not the same as that of traditional proof-of-work or proof-of-stake protocol, thus HBAR is an alternative asset within the altcoin market.

Robinhood stated that the new listing is part of its broader objective to improve digital asset access.

The company has gradually moved beyond legacy tokens like Bitcoin and Ethereum, adding a range of Layer-1 tokens and meme coins to meet growing demand.

More so, Robinhood’s integration may further increase HBAR’s liquidity, attracting speculative interest from traders.

Broader Strategy Behind the Listing

The move by Robinhood came after it ventured into other blockchain operations. Recently, the company introduced tokenized stock trading on the Arbitrum network and started working on a Layer-2 blockchain to enable a bigger throughput.

These advancements represented the shift to Robinhood being a more all-inclusive portal in digital and traditional financial products.

The decision to incorporate HBAR emphasized the company interest in providing a wide range of token access in the competitive environment.

Similarly, the move complements other listings made earlier this year, including Solana-based meme tokens such as MOODENG and MEW.

HBAR Price Movement and Market Conditions

HBAR price had increased by 3% following the listing announcement. At the time of writing the price had shot up by over 10% and was trading at $0.2661.

Analyst credited the motion to the reestablished presence of whales, coupled with an overall swing in attitude towards altcoins.

HBAR price previously tested the $0.32 level earlier in the year before pulling back. Traders are now watching for a retest of that zone. A breakout above it could suggest renewed buying pressure.

Analysts at “More Crypto Online” noted that although HBAR price surged, the rejection suggested it may be forming a B-wave in the ongoing corrective pattern.

The wave pattern was indicative of another possible extension of the correction period rather than a breakout.

Activity like trading has resurged on different platforms following the listing of Robinhood. Provided that the momentum is gained, the HBAR price might stage a brief surge during this altseason.

Trading activity has picked up across various platforms since the Robinhood listing. If momentum builds, HBAR price could see a temporary rally this altseason.

Robinhood Expands Amid Regulatory Shifts

The listing came even as several U.S. exchanges restricted altcoin offerings due to SEC enforcement actions. Robinhood on the other hand kept adding new tokens to its listing.

Earlier this year, the company delisted certain tokens in its site following an internal risk assessment.

Nonetheless, Robinhood has since remains focused on tokens that have a vibrant network and wide user base.