Robinhood Welcomes Wormhole (W) & Jupiter (JUP) Trading in Europe, Prices To Rally?

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As a researcher with a background in cryptocurrency and market analysis, I’m excited about Robinhood Crypto’s recent announcement of facilitating Wormhole (W) and Jupiter (JUP) trading for European customers. This expansion is a positive sign for the growing adoption of decentralized finance (DeFi) tokens and decentralized exchanges (DEXs) in Europe.

Robinhood Crypto, a well-known cryptocurrency trading platform, has optimistically unveiled new offerings: European users can now trade Wormhole (W) and Jupiter (JUP) tokens. This news has generated buzz in the crypto sphere as Robinhood adds incentives to trade these specific tokens.

Despite the backing of a well-known exchange, JUP and W have continued to decline in value. This price trend aligns with the overall crypto market’s lackluster performance on May 30.

Robinhood Extends Support To JUP & W

Starting May 29, as stated in the crypto exchange’s announcement on X, European traders can now buy and sell Wormhole (W) and Jupiter (JUP) on our platform.

The post also reveals a incentive of €500, plus an additional 10% bonus on net purchases made within the initial 30 days of registration. However, it is essential to review the comprehensive terms and conditions for accurate information regarding in-app trading.

As I examine Robinhood’s EU help center, I notice that they offer trading for Wormhole (W) and Jupiter (JUP).

Wormhole’s governance token is denoted as W, while Jupiter, which is a decentralized exchange aggregator built on the Solana blockchain, uses JUP as its native token.

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JUP & W Prices Fall, What’s Next?

While the markets painted an upbeat picture with their listings, JUP‘s value took a dip, decreasing by 7.11% within the last 24 hours to reach $1.10. Likewise, W‘s graph indicated a decline of 6.76%, amounting to a reduction in its price to $0.5751 over the same time frame. As previously stated, this recent downturn in prices can mainly be attributed to the overall market trend.

Regarding the situation at hand, if the market recovers in the future, these tokens may become attractive investment options, much like how new listings on platforms such as Robinhood or other exchanges can spark optimism and positively impact cryptocurrencies.

The RSI of JUP was approximately 46, indicating a relatively balanced market with a slightly bearish trend for this specific security. Likewise, the RSI of W was around 45, suggesting a similar market stance but with a slight downward pressure.

Robinhood recently unveiled the availability of Solana (SOL) staking in Europe, broadening its reach and influence within the cryptocurrency market of Europe.

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2024-05-30 11:17