According to a recent report, Robinhood may wait for better times to add Shiba Him (SHIB) and other altcoins.
According to Reuters, the long-awaited SHIB listing by the Robinhood app may not happen anytime soon.
Robinhood management team is in no rush to list new altcoins, including SHIB, as they expect to gain more regulatory clarity regarding the new coins they can add support for. But Dogecoin is already trading on the platforms and saw its trading volume see a massive 62% increase in the second quarter of this year.
There are Risks
Mati Greenspan, Chairman of Quantum Capital, believes there may be certain risks in Robinhood’s listing of SHIB. Other altcoin traders can choose other meme coins for quick gains in the future, including FLOKI and BabyDoge. According to Greenspan, crypto platforms will need to “keep everything under control to keep their customers happy.”
Also, the analyst says that exchanges will have to streamline the process of listing new coins, and they may eventually start adding completely useless coins to their trading listings.
The prospect of SHIB being listed on Robinhood soon fueled the cryptocurrency’s latest major rally. However, many in the SHIB military believe that, unlike DOGE, the coin rose without Robinhood and Elon Musk.