Chainlink’s LINK coin rose nearly 8% on Tuesday after being listed on the online brokerage platform Robinhood.
Following the publication of the news on the Robinhood trading page on Tuesday at around 12:24 UTC, LINK jumped from its previous price of $6.70 to a new high of $7.18 at 12:37 UTC. Since then, the price of LINK has stabilized at around $7.06 per share, although it has fallen in recent hours along with the entire crypto market.
The listing on Robinhood follows the addition of Chainlink’s LINK token to the Coinbase Index Fund earlier this month.
The Robin Hood listing of LINK, the native token of the Chainlink smart contract oracle app, is the first new token listed on the platform since mid-April, when it did so for compound (COMP), polygon (MATIC), Solana (SUN) and Shiba Inu. It is the first time the platform has listed new tokens since the beginning of May. (SHIB).
The listing on Robinhood may give LINK a much-needed boost. Since mid-June, when the sell-off in cryptocurrency markets began to take hold, the price of LINK has fallen nearly 40% from $9.49 to $5.57. Robinhood’s Nasdaq price has also risen following the publication on Monday of suspicions that cryptocurrency exchange FTX was looking into a possible Robinhood buyout deal.