The decentralization in crypto is each a blessing and disgust because it opens up huge alternatives for decentralized purposes but in addition possesses the chance of being troublesome.
Up to now 24 hours, the Robinhood (HOOD) token is trending with its worth surging over 50% out of nowhere. For newcomers, this token appears just like the official crypto asset from the favored buying and selling app Robinhood however it’s NOT.
Is HOOD Token Official?
For the clear reply, NO. The HOOD token is just not formally related to the Robinhood firm. The ticker image “HOOD” refers back to the publicly traded inventory of Robinhood Markets, Inc., however there is no such thing as a official HOOD cryptocurrency issued by the corporate.
Market knowledge exhibits that the worth of HOOD is presently buying and selling at $0.0007 and has a market cap of $31 million. It’s accessible to commerce on numerous Solana-based decentralized exchanges.
As of February 11, 2025, Robinhood Markets Inc., the monetary providers platform recognized for its inventory and cryptocurrency buying and selling providers, has not launched any cryptocurrency named HOOD. Nevertheless, the corporate is working beneath its publicly traded inventory with the ticker image “HOOD” on the Nasdaq trade.
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