The Shiba Inu token (SHIB) has been added to the Robinhood app.
The coin jumped by 15%, becoming the growth leader in the top hundred of the cryptocurrency rating. Bitcoin declined 0.8% on Tuesday, ending the day at about $39,600. The total capitalization of the crypto market, according to CoinGecko, decreased by 0.4% per day, to $1.93 trillion. The cryptocurrency fear and greed index lost 12 points in a day, up to 20 and went into a state of "extreme fear".
Bitcoin on Tuesday tried to adjust upwards after a strong drawdown the day before. The decline resumed in the US session along with the US stock indices.
According to CoinShares, institutional investors withdrew $134 million from crypto funds last week, which is the most in the last 13 weeks.
According to Glassnode estimates, despite the decline in the asset, 70% of bitcoin addresses are still in profit. The indicator is noticeably higher than in March 2020, when only about half of the addresses were in the black.
Bitcoin and other cryptocurrencies can outperform bonds and stocks in terms of yield in a potential recession of the global economy, Bank of America believes.
The Morningstar investment agency believes that cryptocurrencies have no equal in income among assets, but at the same time they have too high volatility. Each rally of the largest cryptocurrencies usually ends with a collapse of 80-90% of the previous growth.
The cryptocurrency meme Shiba Inu, apparently, has been added to the popular Robinhood application. The coin is already displayed on the official website, although the company has not yet officially announced the listing. In addition to Shiba Inu, Solana (SOL), Polygon (MATIC) and Compound (COMP) have been added, bringing the total number of available cryptocurrencies to 11.