Commencing Wednesday, individuals residing in New York will be able to engage in the exchange of Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP) on the Robinhood platform. This strategic move serves to amplify the range of cryptocurrency options available to New Yorkers, encompassing a total of 11 digital assets.

Robinhood’s initiative to introduce trading capabilities for Shiba Inu, Avalanche, and Compound in New York underscores the platform’s dedication to enriching trading opportunities for residents of the Empire State.

Through a recent announcement, Robinhood unveiled the incorporation of Shiba Inu, Avalanche, and Compound into its repertoire of tradable cryptocurrencies in New York. These newly added assets join the existing array, which includes bitcoin (BTC), ether (ETH), dogecoin (DOGE), bitcoin cash (BCH), chainlink (LINK), litecoin (LTC), ethereum classic (ETC), and aave (AAVE).

The dissemination of this information was conducted via email to users in New York, as outlined by The Block.

Robinhood’s expansion of cryptocurrency offerings in New York mirrors its previous actions within the crypto sphere. Notably, last June, the platform attracted attention by removing three cryptocurrencies — Cardano (ADA), Polygon (MATIC), and Solana (SOL) — in response to a statement from the U.S. Securities and Exchange Commission (SEC) regarding their classification as securities.

Following this announcement, a marginal decline in the prices of AVAX, SHIB, and COMP was observed, based on data from The Block.

At present, AVAX is valued at \\(37.48, while SHIB and COMP are priced at \\\)0.000026 and \$58.35, respectively.

Despite these slight fluctuations, the inclusion of these tokens in Robinhood’s offerings in New York opens up new avenues for trading and investment prospects for residents of the Empire State.

In essence, Robinhood’s decision to facilitate the trading of Shiba Inu, Avalanche, and Compound for New Yorkers signifies an expansion of its cryptocurrency selection in the state, granting investors access to a wider array of digital assets on the platform.

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