Chainlink (CRYPTO: LINK) has been listed on Robinhood (NASDAQ:HOOD) causing its token price to rally up to $7.11 this morning.
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What Happened: On June 28, Robinhood confirmed that Chainlink would be listed on their platform. Consequently, the token jumped from $6.37 to $7.1 in a span of nine hours. Oracle application Chainlink’s token stands as Robinhood’s first new listed cryptocurrency since Polygon (CRYPTO: MATIC), Solana (CRYPTO: SOL), Compound (CRYPTO: COMP) and Shiba Inu (CRYPTO: SHIB) were listing earlier this year in April.
Amidst bearish market climates, most cryptocurrencies have been in a downtrend over the past few months. Thus, Chainlink’s listing on Robinhood brings a short-term bullish price movement for the token. This news comes following reports on June 27 of a potential merger between Robinhood and FTX (CRYPTO: FTT) which also caused Robinhood’s share price to experience an upswing.
