Memecoin Traders Embrace Robinhood Stock Tokens
Robinhood's Stock Tokens, backed 1:1 by real shares, are being paired with memecoins in liquidity pools, letting traders swap a token tied to Nvidia or Snap for a memecoin and back again. Daily trading volume in these pairs peaked at around $440M in early September before falling fast, per Bloomberg.
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Robinhood's Stock Tokens, backed 1:1 by real shares, are being paired with memecoins in liquidity pools, letting traders swap a token tied to Nvidia or Snap for a memecoin and back again. Daily trading volume in these pairs peaked at around $440M in early September before falling fast, per Bloomberg.
Shares of Nasdaq-listed Farmmi surged as much as 321% after traders piled into a memecoin paired with an unofficial Farmmi token that had no link to the actual company.
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