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

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. 

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