Robinhood Lists 4 Meme Coins and XLM as Prices Fall 3%-7% Post-Listing

Robinhood has added four cryptocurrencies—BONK, PENGU, PNUT, and XLM—to its advanced trading platform, Robinhood Legend, enabling eligible users in certain jurisdictions to trade the assets [1]. The expansion follows a period of rising global trading volumes, which increased by 7.69% to $146.73 billion, despite a 1.62% decline in the total cryptocurrency market cap to $3.7 trillion [3]. The move reflects the growing interest in meme coins and niche tokens among retail investors, particularly on platforms that provide broad access.

BONK, a Solana-based meme coin, and PENGU, a community-driven token, were among the assets listed, alongside PNUT, which is associated with decentralized finance (DeFi) utilities, and XLM, the native token of the Stellar network used for cross-border transactions [2]. Despite their inclusion, none of the tokens showed upward movement immediately following the listing. BONK fell nearly 7%, PNUT declined 4.77%, PENGU dropped 3.08%, and XLM dipped over 4.33% [4]. This trend highlights the volatile and speculative nature of meme coins and smaller-cap tokens.

ONDO and FLOKI were also added to the platform but remain view-only assets, meaning users can track their performance but cannot trade them [1]. Robinhood has restricted these tokens for users in New York due to regulatory constraints. This approach suggests a cautious strategy, allowing the firm to gauge market sentiment and liquidity before enabling full trading access.

Analysts have pointed to potential short-term price movements for XLM. The token is currently forming a descending wedge pattern, with a breakout above $0.43 on strong volume potentially signaling a move toward $0.50 [6]. On-chain activity, including a 211.20% surge in 24-hour trading volume and a bullish RSI/MACD profile, supports the possibility of a near-term rally. However, a confirmation of this bullish outlook would require a decisive move above key resistance levels.

The broader market context remains bearish, with FLOKI losing 6.73% and ONDO declining 3.64% [3]. These movements underscore the continued selling pressure across the sector, despite increased trading volumes. The inclusion of BONK, PENGU, PNUT, and XLM on Robinhood Legend indicates a trend toward platform diversification, aiming to align with investor demand while maintaining regulatory compliance.

The listings also highlight the role of meme coins in attracting retail attention, even as their price behavior remains unpredictable. With Robinhood expanding its crypto offerings, the platform appears to be capitalizing on the ongoing interest in speculative assets, while also managing regulatory risks by selectively enabling access. As with other recent additions, the price performance of these tokens remains subject to broader market dynamics and the behavior of speculative traders.

Sources:

[1] Robinhood Lists XLM and 3 Meme Coins On its Trading Platform (https://coingape.com/robinhood-lists-xlm-and-3-meme-coins-on-its-trading-platform/)

[2] Robinhood adds BONK, PENGU, PNUT and XLM to advanced trading platform (https://tradersunion.com/news/brokers-news/show/419238-robinhood-adds-bonk-pengu/)

[3] Robinhood Adds BONK, PENGU, PNUT, XLM, Prices Fall After Listing (https://www.cryptotimes.io/2025/08/06/robinhood-adds-bonk-pengu-pnut-xlm-prices-fall-after-listing/)

[4] Robinhood Expands Crypto Roster With BONK, PENGU, PNUT and XLM (https://coindoo.com/robinhood-expands-crypto-rooster-with-bonk-pengu-pnut-and-xlm/)

[6] Stellar XLM Eyes $0.50 Breakout as Descending Wedge Tightens (https://www.ainvest.com/news/stellar-xlm-eyes-0-50-breakout-descending-wedge-tightens-2508/)