Is Mike Novogratz Set to Kill Robinhood? Galaxy Stocks Explode As Rival App Launches

[Redator]

Is Mike Novogratz set to kill Robinhood market dominance? Galaxy stock price pumps high as Novogratz reveals new Robinhood rival app.

Galaxy Digital launched a retail trading app that combines cash yields, crypto access, and commission-free stock trading, sending its shares higher and putting the firm in direct competition with Robinhood.

Mike Novogratz’s company announced GalaxyOne, a US platform offering 4% annual yield on cash accounts, crypto trading, and fee-free access to over 2,000 US stocks and ETFs. 

The transition signals Galaxy changing its institutional crypto services to consumer finance.

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Mike Novogratz Big Play: How Does GalaxyOne Combine Traditional Finance With Crypto?

GalaxyOne has four products in its financial platform. GalaxyOne Cash offers a 4.00% APY provided by Cross River Bank. 

Galaxy Premium Yield focuses on accredited investors, resulting in an 8.00% yield and a minimum investment of $25000. 

GalaxyOne Crypto allows trading Bitcoin, Ethereum, and Solana through Paxos. 

And finally, DriveWealth also offers broker-free trading of stocks and ETFs with GalaxyOne Brokerage, with access to IRA and fractional shares.

The interest that users receive can be invested directly in crypto, linking the savings that people have accumulated in the past to the technology.

The new application is based on Galaxy’s acquisition of Fierce in 2024, which will result in the migration of its 2,500 customers to the platform. 

Novogratz explained that GalaxyOne targets more mature investors, which is a reference to a different audience compared to Robinhood, which has a younger demographic.

“We’ve spent years building institutional-grade infrastructure; now we’re extending that edge to individuals,” Novogratz said.

Listed on Nasdaq as GLXY since May, Galaxy’s shares rose after the announcement, while Robinhood’s stock traded mixed. 

(Source: TradingView)

By merging yields, crypto, and equities under one roof alongside trusted partners like Cross River, Paxos, and DriveWealth, Galaxy is positioning itself as a full-service alternative to single-category brokers. 

The launch deepens competition in US retail finance and will test whether a crypto-native firm can win market share from traditional trading apps.

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GLXY Price Prediction: Is Galaxy Digital (GLXY) Breaking Out Toward the $50-$60 Zone?

According to a crypto analyst, Galaxy Digital stock (GLXY) has been on the rise since it broke the major Gann horizontal resistance in the weekly chart. 

This was a major technical breakout as the price shot up over 7% this week to approximately $38.83.

The shift is a part of an overall bullish trend that has been occurring since the middle of 2023, with increasing lows and accumulation. 

The chart structure indicates that GLXY has regained several curved Gann arcs, which implies that the consolidation stage is over and the continuation stage is being experienced.

(Source: X)

The presence of volume expansion and good candle patterns indicates reasonable control of buyers.

Analysts now view $32 as a critical support, with the path of least resistance pointing toward $50-$60, where the next geometric intersection lies.

If momentum sustains, Galaxy Digital could retest its 2021 highs in the coming months, a sign that investor confidence in its crypto-linked exposure is returning alongside the broader digital asset recovery.

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