Robinhood to Test Feature That Reduces Volatility Impact

by in Cryptocurrency News

Robinhood possible feature

Crypto trading operations provider Robinhood may present a feature that protects users from crypto price ups and downs.

Related: FTX Changes Its Leverage Size, Making It 5 Times Lower

As mentioned in a report published by Bloomberg on July 27, iOS developer Steve Moser carried out an analysis of a new code running in a final product test of the Robinhood iPhone application. Moser study showed that the platform is building a new feature called price volatility protection. The reason for such an assumption is that the code has a line that says protect orders from price movements. In particular, skip recurring requests or by less than the mentioned sum. Thus, the app has a goal to reduce the influence on users caused by crypto price changes.

There is another expected feature from Robinhood too. That is the round-up investments option that will enable customers to invest their spare charges in certain stocks.

Robinhood plans to go public sooner, however the exact date is unknown. The firm will trade its shares on Nasdaq under the ticker HOOD. The broker's CEO Vlad Tenev recently unveiled the plans of expanding and upgrading the company’s crypto offerings and the app’s security.

Robinhood was founded in 2013. In 2018 it launched Robinhood Crypto, which is licensed by the New York State Department of Financial Services.

Trending: Judge Asks Whether All People Selling XRP Violated the Law

In the first quarter of 2021 17% of the company’s revenue came from crypto transactions.