Robinhood Adds $HYPE Token to Trading Platform
Robinhood’s crypto listings expanded with BNB, HYPE, ASTER, XPL, and VIRTUAL tokens, reflecting the platform’s accelerated drive to broaden digital asset offerings.
Robinhood has expanded its cryptocurrency offerings by listing BNB and HYPE tokens on Nov. 23, following the addition of ASTER, XPL, and VIRTUAL on Nov. 16. The HYPE token, native to decentralized exchange Hyperliquid, recently surged 13% intraday to $40.54, with a market cap nearing $11 billion since its December 2024 launch at $10. Hyperliquid Strategies has filed with the SEC to raise $1 billion for a HYPE buyback, holding 12.6 million tokens worth about $470 million plus $305 million in cash. Technical levels show $35 as support, with resistance at $42, $46, and $50 before retesting the $59 all-time high.
- Token Listing: The process by which a cryptocurrency or digital asset is made available for trading on an exchange.
- Decentralized Exchange (DEX): A peer-to-peer marketplace where cryptocurrency traders can transact directly without an intermediary.
- Buyback: The repurchase of tokens from the market by the issuing entity, often aiming to reduce supply and boost value.