Robinhood Stock Surges 12% with USDC Listing

Robinhood Stock Surges 12% with USDC Listing

Robinhood Stock Surges 12% with USDC Listing

The Europe division of Robinhood has added USD Coin to its platform, with a reward program offering 10% returns for USDC holders.

Recently, the Europe division of Robinhood implemented the listing of USD Coin (USDC) on its platform, thereby increasing its offers to include more than 25 other cryptocurrencies.

Furthermore, the cryptocurrency exchange has introduced a program that allows USDC holders to earn up to 10% in rewards. This program is available to them.

Robinhood EU Lists USDC Stablecoin

Additionally, during the pre-market session today, the Robinhood stock experienced an almost 12% increase in value. The EU wing of Robinhood announced the listing of the USDC stablecoin on March 14, following the expansion of operations into Europe in late 2023.

In addition, the cryptocurrency exchange disseminated information about the incentive scheme by noting, “Check out our most recent limited-time offer and earn up to 10% in rewards on the USDC you hold natively in the Robinhood Crypto app.”

Between March 1 and June 15, the reward program will offer advantages to users of Robinhood who keep USDC within their accounts.

Clients must hold USDC in their possession at any time during the offer period and trade any cryptocurrency supported on the site to be eligible for the rewards.

A maximum payout of €1,000 ($1,094) in USDC is available to participants during the promotional period, and they can earn incentives of up to 10%.

In addition, another program still offers €5 worth of USDC to users as an incentive to encourage them to interact with the platform and increase their knowledge of cryptocurrencies.

Within the context of the USDC Learn and Earn promotion, users are strongly encouraged to navigate to the “Learn about Crypto” feature located on their cryptocurrency home tab.

Eligibility for rewards requires selecting the “Learn and Earn €5 USDC” option located in the discussed section. Because of the announcement, HOOD stock rose to more than $19.

On Thursday, March 14, an increase of 1.95 points brought the cost of Robinhood stock to $19.11, representing an increase of 11.36% during the pre-market session.

The increase in Robinhood stock price prepares the door for a gap up from the previous closing and makes it possible to extend the gains.

The HOOD stock finished the trading day on Wednesday at $17.16, representing a gain of 4.70%, or 0.77 points. Furthermore, if Robinhood stock’s price reaches the level it was before the market opened, it has the potential to reach a new 52-week high.

HOOD stock is currently trading at $17.62, which is its 52-week high. The recent rebound successfully recouped the losses sustained during the collapse at the beginning of the week.

The closing price of Robinhood stock on Tuesday, March 12, was $16.36, a decrease of 2.96% from Thursday’s closing price. In addition, it suggested a drop of around 4% from the closing price of $17 the previous week. 

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