- Robinhood adds BONK, PENGU, PNUT, and XLM to its platform, enabling trading for eligible users across select jurisdictions.
- Despite higher trading activity, all newly listed tokens dropped in price following their addition to Robinhood Legend.
- FLOKI and ONDO remain view-only and are restricted for users in New York due to specific regulatory limitations.
Robinhood has listed BONK, PENGU, PNUT, and XLM on its advanced crypto trading platform, Robinhood Legend. The announcement was made through the company’s verified X account. The assets are now available for eligible users to trade, although access may vary depending on state regulations.
BONK and PENGU are meme-based cryptocurrencies that have seen community-driven interest, while PNUT offers decentralized finance utilities. XLM, part of the Stellar network, focuses on cross-border transactions. Despite their inclusion, none of the newly listed tokens have shown upward momentum.
Tokens Slide in Price After Listing
All four assets experienced price drops shortly after becoming tradable. BONK declined 6.8 percent to $0.00002430. PENGU dropped 3.08%, closing at $0.03347. PNUT slid 4.77% to $0.2163, while XLM lost 4.33% to trade at $0.3952.
In addition to the tradable tokens, Robinhood has added ONDO and FLOKI to its platform as view-only assets. Users can track their prices but cannot trade them. According to Robinhood’s availability documentation, these tokens remain inaccessible to users in New York due to regulatory restrictions.
Trading Volumes Up but No Immediate Rally
CoinMarketCap data shows increased trading activity across several of the listed tokens. However, the price movement remains negative. PENGU’s trading volume fell by 28%. PNUT saw a slight increase in activity but remained in the red. XLM, with the highest market cap among the group, mirrored the same downtrend.
FLOKI recorded a 6.73% loss, dropping to $0.0001037 after breaking key intraday support levels. ONDO declined 3.64% to $0.9159, touching a low of $0.8877 before recovering slightly.
The overall cryptocurrency market saw a 1.62% decline in total market cap, now valued at $3.7 trillion. Meanwhile, total trading volume rose by 7.69% to reach $146.73 billion. The increase in trading volume suggests ongoing interest, but selling pressure continues to dominate short-term trends.
