TechFlame News, according to Cointelegraph, blockchain data analytics firm Nansen's CEO Alex Svanevik said in a recent interview that Robinhood is unlikely to launch a token, as it could compete with its publicly traded stock, HOOD. Svanevik pointed out that Robinhood's current Layer 2 network already runs on the Ethereum ecosystem and has a gas token for covering network fees, so there's no need to issue an additional platform token. He believes the core purpose of Robinhood's blockchain infrastructure push is to leverage blockchain technology to enhance its product capabilities, rather than raising funds or building a new economic model through token issuance. Previously, the market had speculated that Robinhood might follow in the footsteps of some crypto projects and launch an ecosystem token, but as it stands, the company is more likely to use blockchain as an underlying technology tool rather than building its business around a token.