Home Correction trading AAVE and Tezos XTZ arrive on the Robinhood commission-free trading platform

AAVE and Tezos XTZ arrive on the Robinhood commission-free trading platform

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  • In the bear market where most cryptocurrencies outperformed Bitcoin, Robinhood announced the listing of AAVE and XTZ.
  • Robinhood users now have access to 19 digital assets that can be traded commission-free on the platform.
  • Both AAVE and XTZ prices have fallen nearly 75% over the past year, struggling to recover.

Bitcoin has been outperforming most altcoins in the current bear market. AAVE has generated gains of 11% for holders in the last thirty days and the peer-to-peer transaction token XTZ has begun its recovery. The commission-free trading platform Robinhood has listed these two cryptocurrencies on its exchange.

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Robinhood Lists AAVE and XTZ, Pushes Altcoin Adoption Higher

Robinhood, a commission-free stock trading and investment app, has listed two new cryptocurrencies AAVE and Tezos XTZ on its exchange. AAVE is a token for an open-source liquidity protocol and Tezos XTZ is a cryptocurrency used for peer-to-peer transactions. Both are now available to redeem against 15.9 million monthly active users on Robinhood.

The listing of the two new cryptocurrencies is a key step in increasing their adoption, as the commission-free exchange attracts a large audience of crypto traders. Robinhood has 22.8 million funded accounts, bringing AAVE and XTZ to a wider audience of traders.

Over the past thirty days, the price of Bitcoin has remained largely unchanged. At the same time, AAVE saw gains of 11% and the price of XTZ fell 8%. The peer-to-peer transaction token XTZ began its recovery on October 24.

Robinhood Markets, the commission-free exchange’s trading app now offers a total of nineteen cryptocurrencies, including Bitcoin, AAVE, and XTZ.

Both AAVE and XTZ prices are down 75% over the past year. Open source smart contract platform Tezos recently announced its partnership with Shopify. Robinhood’s new partnership and listing could fuel a recovery in the peer-to-peer transaction token XTZ.

Analysts predict a 10% decline in AAVE

Noobietrade, a pseudonymous crypto analyst, applied Elliott Wave Theory to the AAVE-USDT price chart and predicted that the fifth wave could send AAVE prices higher to $92.5. The ABC correction following the end of wave five, however, could lead to a price correction. The analyst says that after completing A, B and C, a 10% pullback from the current level of $83.24 to $74.1 is likely.

AAVE-USDT Price Chart