Trending commission-free trading platform Robinhood has, reportsย by data from the blockchainย tech, moved around 8 percent of the supply of the meme-inspired digitalย currency Dogecoinย (DOGE) ($DOGE) to a new mysterious wallet.
The development impliesย that the supply of Dogecoinย (DOGE) Robinhood held in its wallets, which was once holding steady at around 24%, has plunged to 16 percent following considerable transactions involving a new wallet thatโs now in the โtop 20โ as well.
Reportsย by Dogecoinย (DOGE) whale monitoring service Dogecoinย (DOGE) Whale Alert, the walletโs movements were shared on the microblogging platform Twitter as they were occurring, with plentyย of substantial transactions moving the funds to the receiving wallet.
Whether the new wallet likewise belongs to the commission-free trading platform isnโt clear. The possibility that Robinhood couldย be transferring the Dogecoinย (DOGE) to another wallet under its control could indicate a restructuring of its holdings for reasons asย ofย now unknown.
Dogecoinย (DOGE), known for its playful Shibaย Inuย (SHIB) logo, has been a subject of fascination between digitalย currency enthusiasts since its inception in 2013. Althoughย while itsย price has fluctuated wildly over the years, it has recently gained more serious attention from investors and major corporations, including Robinhood.
Robinhoodโs substantial holdings of Dogecoinย (DOGE) had long been a topic of interest in the cryptocurrency community, which atย theย beginning did not know that the meme-inspired digitalย currencyโs largest wallet belonged to the exchange.
As CryptoGlobe informed, Dogecoinย (DOGE) has seen its daily transaction volume surge to a new record-breakingย peak, to the point that it surpassed the transaction volumes of the largest digitalย currency by marketย cap, Bitcoinย (BTC) ($BTC), and that of a digitalย currency often seen as the silver to BTCโs gold, Litecoin ($LTC).
Reportsย by data shared by Dogecoinย (DOGE) enthusiast Mishaboar on the microblogging platform Twitter, Dogecoinโs transaction volume surged to a new record-breakingย peak as users have been looking to mint DRC20 cryptoย tokens on top of the network.
Earlier theseย 30ย days a mysteriousย Dogecoinย (DOGE) whale transferred over 13 Million tokensย of the meme-inspired digitalย currency in a series of transactions that came shortly after Tesla,ย Inc. and Space X CEO Elon Muskย (Teslaย &ย SpaceX CEO) announced his intention to install a new CEO for the microblogging platform Twitter.
The Dogecoinย (DOGE) whale moved the 13 Million cryptoย tokens, worth over $927,000 at the time of the transaction, from different numerous wallets to a newly created wallet, in a series of transactions that cost them just 3.63 Dogecoinย (DOGE) in charges, equivalent to $0.26 at the time of the transaction.
Notable movements have been occurring on the Dogecoinย (DOGE) blockchainย tech over the last few weeks. As CryptoGlobe informed, an inactive Dogecoinย (DOGE) address with 1.5 Million cryptoย tokens has recently reemerged afterย remaining dormant for 9.3 years.
Asย alreadyย stated, tens of billions of cryptoย tokens of the meme-inspired digitalย currency are now being held by longstanding investors, as entities that have been HODLing onto the digitalย currency for over a year now have 44.8 Billion cryptoย tokens, worth over $3.7 billion.
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