Markets News Report
April 03, 2024

Robinhood Crypto Adds Optimism’s OP Token For Trading. Accessible In Selected EU Jurisdictions

In Brief

Robinhood Crypto includes Optimism’s native token OP for trading on its platform, now accessible within select jurisdictions across the EU.

Robinhood Crypto Adds Optimism's OP Token For Trading. Accessible In Selected EU Jurisdictions

Cryptocurrency trading platform Robinhood Crypto announced the inclusion of Optimism‘s native token OP for trading on its platform, now accessible within select jurisdictions across the European Union.

Optimism is a Layer 2 blockchain built atop Ethereum, leveraging the Ethereum mainnet’s security while enhancing the Ethereum ecosystem’s scalability through optimistic rollups. This entails transactions being recorded on Optimism in a trustless manner, with ultimate security provided by the Ethereum network.

As one of the biggest scaling solutions for Ethereum Optimism, it records a total value locked (TVL) exceeding $500 million. Within its ecosystem are 97 protocols, among the largest of which are Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a decentralized exchange (DEX), and Velodrome (VELO), an automated market maker (AMM). In 2022, Optimism conducted a highly anticipated airdrop of its native OP token.

The Optimism Foundation, responsible for developing the Optimism ecosystem, recently commenced the sale of approximately 19.5 million OP tokens to private investors, with the sale value exceeding $89 million.

At the time of writing, the price of OP token stands at $3.12, marking a decrease of almost 2% over the previous 24 hours, based on CoinMarketCap data.

Robinhood Crypto Offers Trading For 24 Cryptocurrencies, Including BTC, ETH And SOL

Robinhood Crypto provides a platform for trading various cryptocurrencies at competitive rates, allowing users to buy, sell, and store various cryptocurrencies. At present, the platform facilitates trading for 24 cryptocurrencies, encompassing popular options such as BTC, ETH, SOL, XRP, DOGE, and various others. It aims to expand its asset offerings by incorporating additional cryptocurrencies in the foreseeable future. 

Notably, when engaging in cryptocurrency trading on Robinhood Crypto, users can receive a portion of their trade value back in BTC as a reward. This reward is determined by the total volume of cryptocurrency trades conducted throughout the month. Rewards are provided in BTC. However, users are restricted from selling the value of their BTC reward for a period of 30 days from the date of issuance.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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