Robinhood Transfers 8% of $DOGE to Unknown Wallet #Robinhood #Dogecoin #Crypto #Transfer #UnknownWallet

Robinhood Transfers 8% of $DOGE to Unknown Wallet #Robinhood #Dogecoin #Crypto #Transfer #UnknownWallet


Robinhood has moved 8% of its Dogecoin supply to a new wallet, causing its holdings to drop from 24% to 16%, with the possibility of restructuring its holdings for unknown reasons.

Trending commission-free trading platform Robinhood has, reports by data from the blockchain tech, moved around 8 percent of the supply of the meme-inspired digital currency Dogecoin (DOGE) ($DOGE) to a new mysterious wallet.

The development implies that the supply of Dogecoin (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 that’s now in the “top 20” as well.

Reports by Dogecoin (DOGE) whale monitoring service Dogecoin (DOGE) Whale Alert, the wallet’s movements were shared on the microblogging platform Twitter as they were occurring, with plenty of substantial transactions moving the funds to the receiving wallet.

Whether the new wallet likewise belongs to the commission-free trading platform isn’t clear. The possibility that Robinhood could be transferring the Dogecoin (DOGE) to another wallet under its control could indicate a restructuring of its holdings for reasons as of now unknown.

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Dogecoin (DOGE), known for its playful Shiba Inu (SHIB) logo, has been a subject of fascination between digital currency enthusiasts since its inception in 2013. Although while its  price has fluctuated wildly over the years, it has recently gained more serious attention from investors and major corporations, including Robinhood.

Robinhood’s substantial holdings of Dogecoin (DOGE) had long been a topic of interest in the cryptocurrency community, which at the beginning did not know that the meme-inspired digital currency’s largest wallet belonged to the exchange.

As CryptoGlobe informed, Dogecoin (DOGE) has seen its daily transaction volume surge to a new record-breaking peak, to the point that it surpassed the transaction volumes of the largest digital currency by market cap, Bitcoin (BTC) ($BTC), and that of a digital currency often seen as the silver to BTC’s gold, Litecoin ($LTC).

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Reports by data shared by Dogecoin (DOGE) enthusiast Mishaboar on the microblogging platform Twitter, Dogecoin’s transaction volume surged to a new record-breaking peak as users have been looking to mint DRC20 crypto tokens on top of the network.

Earlier these 30 days a mysterious  Dogecoin (DOGE) whale transferred over 13 Million tokens of the meme-inspired digital currency in a series of transactions that came shortly after Tesla, Inc. and Space X CEO Elon Musk (Tesla & SpaceX CEO) announced his intention to install a new CEO for the microblogging platform Twitter.

The Dogecoin (DOGE) whale moved the 13 Million crypto 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 Dogecoin (DOGE) in charges, equivalent to $0.26 at the time of the transaction.

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Notable movements have been occurring on the Dogecoin (DOGE) blockchain tech over the last few weeks. As CryptoGlobe informed, an inactive Dogecoin (DOGE) address with 1.5 Million crypto tokens has recently reemerged after  remaining dormant for 9.3 years.

As already  stated, tens of billions of crypto tokens of the meme-inspired digital currency are now being held by longstanding investors, as entities that have been HODLing onto the digital currency for over a year now have 44.8 Billion crypto tokens, worth over $3.7 billion.

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