Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up by about half a percent during Tuesday’s premarket session but gave up the gain at the open.
The latest news on Robinhood’s UK business came on Monday, when the company announced an expansion of its UK crypto offering.
New UK Crypto Trading Offering
Robinhood is launching crypto trading for UK investors through Bitstamp UK Ltd, rolling out to eligible customers this week.
It will give access to more than 50 cryptocurrencies inside the same app used for stocks & shares ISAs, equities, options, and futures.
The company is also advertising zero trading fees and no account maintenance or custody fees, while noting UK customers will pay a 0.10% FX fee (and a 0.30% weekend FX fee for certain conversion windows).
To complement the launch, Robinhood is launching Cortex Digests for Crypto.
It is an AI-powered tool that combines breaking news, market data, technical indicators and proprietary insights to explain crypto price movements in simple language and provide timely market context.
The launch also expands Robinhood’s UK crypto ecosystem, with local developers able to build on Robinhood Chain, a Layer 2 blockchain powered by Arbitrum.
Since its July 1 global launch, the network has recorded more than $18 billion in DEX trading volume and over $840 million in total value locked.
Critical Price Levels To Watch For Robinhood Stock
At $95.00, the stock is stuck in the middle of its longer-term range ($63.52 to $153.86) and is still trading 2.6% below the 20-day SMA ($97.41) and 3.2% below the 200-day SMA ($98.08), which keeps overhead supply in play on bounces. The more constructive part of the tape is that price remains 8.5% above the 100-day SMA ($87.46), suggesting the intermediate uptrend hasn’t fully broken even as the stock digests.
