Is HOOD Token Officially Launched by Robinhood? Fact Check
The decentralization in crypto is each a blessing and disgusting because it opens up huge alternatives for decentralized functions, however it additionally poses the danger of being troublesome.
Previously 24 hours, the Robinhood (HOOD) token is trending with its value surging over 50% out of nowhere. For newcomers, this token seems 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 just isn’t formally related to the Robinhood firm. The ticker image “HOOD” refers back to the publicly traded inventory of Robinhood Markets, Inc., however there isn’t any official HOOD cryptocurrency issued by the corporate.
Market information reveals that the worth of HOOD is at the moment buying and selling at $0.0007 and has a market cap of $31 million. It’s out there to commerce on numerous Solana-based decentralized exchanges.
As of February 11, 2025, Robinhood Markets Inc., the monetary companies platform identified for its inventory and cryptocurrency buying and selling companies, has not launched any cryptocurrency named HOOD. Nonetheless, the corporate is working underneath its publicly traded inventory with the ticker image “HOOD” on the Nasdaq change.
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