Robinhood expands crypto offerings with Pyth Network token PYTH
Solana tokens mark a significant expansion of Robinhood's crypto offerings amid evolving regulatory landscape.
Key Takeaways
- Robinhood has added the Pyth Network (PYTH) and Raydium (RAY) tokens to its platform, expanding its offering within the Solana ecosystem.
- The inclusion of these tokens provides retail investors access to Solana-based infrastructure projects.
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Robinhood added Solana-based token Pyth Network (PYTH) to its crypto trading platform as part of its digital asset expansion efforts.
Robinhood has made PYTH tokens available through a direct listing.
Please refer to @RobinhoodApp's official website and announcement channels for more details: https://t.co/Fb03UvbmPS
— Pyth Network 🔮 (@PythNetwork) February 14, 2025
The addition of the PYTH token gives retail investors a new access point to an infrastructure project within the Solana ecosystem, which has gained traction in DeFi and blockchain applications.
Pyth Network’s PYTH token represents a cross-chain oracle platform that delivers real-time price data across various asset classes, including equities, crypto assets, and commodities.
The network sources data from institutional participants like exchanges and trading firms, making it accessible on-chain for decentralized finance applications.
The listing comes amid recent regulatory shifts in the US following Donald Trump’s reelection, which coincides with more favorable crypto oversight.
Trading volumes and plans for future token listings were not disclosed.
In May 2024, Robinhood introduced Solana staking in Europe, offering a 5% APY to meet the demand for passive income opportunities among its users.
Last November, the trading platform relisted SOL, ADA, and XRP and added PEPE to its platform to diversify its crypto offerings and enhance accessibility.
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