Hedera Defies Crypto Selloff After Robinhood Listing — Dogecoin, Stellar Lead Losses
Synopsis
Retail traders on Stocktwits anticipated that the token would experience the ‘Robinhood’ effect after getting listed.
The price of the crypto token Hedera (HBAR) trended upward during U.S. market hours, even as the rest of the cryptocurrency market moved lower after Robinhood (HOOD) announced on Friday that it would be listing HBAR on its exchange.
Hedera’s price gained 0.7% in the last 24 hours – the only cryptocurrency among the top 20 by market value to be in the green at the time of writing.
On Stocktwits, retail sentiment around the altcoin remained in ‘neutral’ territory as compared to a day ago. Traders on the platform anticipated that the token would experience the ‘Robinhood’ effect – a phenomenon where any newly listed token sees its price surge after listing.
Meanwhile, Bitcoin (BTC) and other major tokens were in free fall. Bitcoin’s price tumbled more than 3% over the past day, while Stellar (XLM) and Dogecoin (DOGE) took the biggest hits, dropping by over 8%.
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