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LINK Rallies as Much as 8% After Listing on Robinhood

Jamie Crawley
Updated ·1-min read

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.

Chainlink's LINK currency rallied by about 8% Tuesday following its listing on online brokerage platform Robinhood (HOOD).

  • LINK climbed from $6.70 at around 12:24 UTC on Tuesday as high as $7.18 at 12:37 UTC following the news appearing on Robinhood's listing page. LINK's price has since settled down to around $7.06.

  • Robinhood listed LINK, the native token of oracle application Chainlink, the first time the platform has listed new tokens since mid-April when it did so for compound (COMP), polygon (MATIC), solana (SOL) and shiba inu (SHIB).

  • The Robinhood listing may provide a much-indeed boost for LINK, which has fallen by over 40% from $9.49 to $5.57 during the middle part of June as the the broad sell-off in the crypto markets took hold.

  • Nasdaq-listed Robinhood itself enjoyed a spike in its share price Monday following reports that crypto exchange FTX was looking into a possible deal to acquire it.

Read more: Chainlink Price Feeds Now Live on Solana