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BiyaPay Analyst: Robinhood Stock Price Rises 13% Due to Tokenized Stock Bullishness

7 hours ago

On July 1st, Robinhood's stock price witnessed a 13% surge, which marked its best single-day performance since April 9th. Robinhood's CEO announced that the company intends to expand the tokenized trading of U.S. stocks from the current 200 to "thousands" by the end of this year. In addition, Arbitrum (Arb) also rose by 20%, attracting extensive market attention. Robinhood is expediting its expansion of the crypto business and plans to launch its own blockchain and introduce "stock tokens" in the EU market. The company recently launched a tokenized stock trading product on the Ethereum Layer 2 network Arbitrum for European users, supporting over 200 U.S. stocks and ETFs and enabling 24/7 trading on weekdays. Robinhood stated that this move will upgrade its European crypto platform to a "crypto-powered comprehensive investment platform." Robinhood is building a Layer 2 blockchain optimized for tokenized assets, expected to support 24/7 trading, self-custody, and cross-chain transfer of tokenized assets. As a leading cross-border payment platform, BiyaPay also provides users with convenient cryptocurrency trading services. The platform supports spot and contract trading of over 200 cryptocurrencies, including Bitcoin and Ethereum, and offers zero-fee limit order trading. Furthermore, BiyaPay supports USDT trading for global stocks such as U.S. and Hong Kong stocks, enabling users to participate in stock trading in real-time without the need for an offshore account.
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SEC Approves Conversion of Grayscale Digital Large Cap Fund into ETF

On July 2nd, the U.S. Securities and Exchange Commission (SEC) gave its approval for an amendment that would convert the Grayscale Digital Large Cap Fund into an ETF (encompassing BTC, ETH, XRP, SOL, ADA).

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GMGN has partnered with xStocks to enable users to trade US stocks on the Solana blockchain.

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Mizuho Raises Robinhood Price Target to $99

On July 2nd, the Mizuho analyst once again maintained a "Buy" rating on Robinhood (HOOD) and increased its price target from $80 to $99. Robinhood (HOOD) announced yesterday the launch of a tokenized stock product based on Arbitrum. At present, it is building the Robinhood Chain, a Layer 2 network dedicated to Real World Assets (RWA).

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First USDT-based Layer 1 Network Stable Roadmap

On July 2nd, the first USDT-based Layer 1 network Stable unveiled its roadmap. In the first phase, the USDT base layer will be implemented. USDT will be used as the native gas token, achieving sub-second block time and finality. A stable wallet will be introduced to enhance the user experience. In the second phase, the USDT experience layer will be implemented. Optimistic parallel execution will be adopted to increase transaction throughput. A USDT transfer aggregator and dedicated block space for enterprises will be introduced to ensure efficient processing and consistent performance. In the third phase, the USDT full-stack optimization layer will be implemented. It will be upgraded to a DAG-based consensus to improve speed and resilience. Developer tools and resources will be expanded to promote dApp development. Stable is supported by Bitfinex and the USDT unified liquidity protocol USDT0. The network uses USDT as the native Gas, allowing for free peer-to-peer USDT transfers. Pa

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BMNR intraday gain expands to 120%, with a trading volume of $1.738 billion

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