With Cryptocurrencies having struggled to maintain value in recent times, major digital platforms have faced major challenges. It is against this backdrop that the fortunes of Robinhood and Coinbase may be beginning to diverge.
Yesterday’s trading showed a broad-based retreat from Crypto. Many analysts see this as part of a growing tendency on the part of digital coins to track the stock market, which has also shown declines in recent sessions.
Western powers have implemented a new raft of sanctions against the Russian banking sector in response to the conflict in Ukraine. Russian citizens may now be turning to Cryptocurrencies as an alternative store of value as their national economy enters crisis mode.