AAVE and Tezos XTZ arrive on commission-free trading platform Robinhood

In the bear market where most cryptocurrencies have outperformed Bitcoin, Robinhood announced the listing of AAVE and XTZ.
Robinhood users now have access to 19 digital assets that can be traded commission-free on the platform.
Both AAVE and XTZ prices declined nearly 75% over the past year, struggling to make a recovery.

Bitcoin has been outperformed by most altcoins in the current bear market. AAVE yielded 11% gains for holders over the past thirty days and the peer-to-peer transaction token XTZ has started its recovery. Commission-free trading platform Robinhood has listed both these cryptocurrencies on its exchange.

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Robinhood lists AAVE and XTZ, pushes altcoin adoption higher

Robinhood, a commission-free stock trading and investing application has listed two new cryptocurrencies AAVE and Tezos XTZ on its exchange platform. AAVE is a token for an open source liquidity protocol and Tezos XTZ is a cryptocurrency used for peer-to-peer transactions. Both are now available to trade for 15.9 million monthly active users on Robinhood.

The listing of the two new cryptocurrencies is a key step in driving their adoption higher as the commission-free exchange platform draws a wide audience of crypto traders. Robinhood has 22.8 million funded accounts, bringing AAVE and XTZ to a wider audience of traders.

Over the past thirty days, Bitcoin price has remained largely unchanged. At the same time, AAVE yielded 11% gains and XTZ price declined 8%. The peer-to-peer transaction token XTZ started its recovery on October 24.

Robinhood Markets, the trading app of the commission-free exchange now features a total of nineteen cryptocurrencies including Bitcoin, AAVE and XTZ.

AAVE @AaveAave and XTZ @tezos are now on Robinhood #CryptoListing https://t.co/QtzBwskSdo
— Robinhood (@RobinhoodApp) October 24, 2022

Both AAVE and XTZ prices are down 75% over the past year. The open-source smart contract platform Tezos recently announced its partnership with Shopify. The new partnership and Robinhood listing could fuel a recovery in the peer-to-peer transaction token XTZ.

Analysts predict 10% drawdown in AAVE

Noobietrade, a pseudonymous crypto analyst applied the Elliott Wave Theory on AAVE-USDT price chart and predicted that wave five could send AAVE price shooting to $92.5. The ABC correction following the end of wave five however could see a correction in price. The analyst says that on completing A, B and C, a 10% drawdown from the current level of $83.24 to $74.1 is likely.

AAVE-USDT price chart

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