Dogecoin has been one of the hottest cryptocurrencies in 2021 and is seeing strong demand from retail traders looking to buy, sell and hold the meme-based crypto.
Webull is beta testing Dogecoin DOGE/USD for its crypto customers and plans on rolling the cryptocurrency out to all customers on April 20.
Check out Benzinga's "Power Hour" YouTube show Monday for more on Webull's addition of Dogecoin trading.
Webull Adding Dogecoin: Webull CEO Anthony Denier told Benzinga Monday the trading platform plans to offer Dogecoin to its cryptocurrency customers.
“Webull Crypto has been and is currently testing Dogecoin,” Denier said.
The crypto has been tested with select customers for the last week in a beta test.
The introduction of Dogecoin on Webull comes “purely due to demand,” he said.
The tests have been going well, Denier told Benzinga.
“Dogecoin was the most-requested cryptocurrency that we add to the platform far and away.”
Demand for Dogecoin has been strong from beta testers, and the company anticipates it will be active when rolled out to all customers.
“People are opening accounts just to get an account open when we launch.”
Denier told Benzinga the launch of Dogecoin is being done due to listening to customer wants and demands and not to compete with any of the company’s rivals.
Denier will appear on "Power Hour" Tuesday afternoon.
Related Link: How To Day Trade On Webull
What’s Next: The goal at Webull has been to get Dogecoin available on the crypto platform in time for “DogeDay” on April 20.
The plan is to open Dogecoin trading to all Webull crypto customers by 1 a.m. ET April 20. Some customers could be able to trade Dogecoin as early as Monday night after the U.S. markets close.
Other cryptocurrencies are being tested by Webull Crypto, Denier said.
“We put Dogecoin out front because of the customer demand.”
See also: How to Buy Dogecoin (DOGE) on Webull
Around one-third of Webull brokerage customers also have Webull Crypto accounts, the CEO said.
Webull has seen tremendous growth in the first quarter in terms of revenue and new accounts opened. Denier said the quarter was phenomenal for Webull and the entire industry.
“To put it in context, we have opened up the same amount of accounts in the first quarter 2021 that we have done in the full year of 2020.”
DOGE Price Action: Dogecoin was trading at 0.372124 cents at last check Monday.
Related Link: If You Invested $1,000 In Dogecoin On Jan. 1, 2021, Here’s How Much You’d Have Now
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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