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31.99% Of Circulating DOGE Supply Held by Robinhood: Report

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Sun, 02/27/2022 - 10:09
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Yuri Molchan
It has been reported that Robinhood trading app holds almost 32 percent of all circulating Dogecoin supply; meanwhile, anonymous whales transfer 810 million DOGE
31.99% Of Circulating DOGE Supply Held by Robinhood: Report
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@DogeWhaleAlert Twitter account has revealed how much Dogecoin Robinhood is holding for its investors. Thanks to the recently launched cryptocurrency wallets, the company’s clients now can withdraw crypto and send it to third party addresses as well.

Robinhood holds almost 1/3 of DOGE in circulation

Robinhood has announced that the share of the original (and most popular meme cryptocurrency) Dogecoin stored by the popular brokerage app Robinhood comprises almost 32 percent of the total supply in circulation.

That is a staggering 42,436,664,891 DOGE worth $5,398,537,887. The platform is holding these funds on behalf of its customers, the tweet says. Robinhood stores Dogecoin on two wallets, using eight addresses.

810 million Dogecoin shifted between anon wallets

The above mentioned DOGE-related Twitter account has also shared that a couple of days ago, anonymous whales made three large transfers of Dogecoin. In total, they have moved more than 800 million DOGE.

One lump carried 400,781,942 DOGE (the equivalent of $49,996,746). The other two moved roughly 205 million DOGE each and each was worth $25,495,252.

Curiously, when this sum in DOGE was shifted for the first time from multiple addresses to an anonymous wallet, the transaction fee was 12.92 DOGE ($1.61). As this sum was moved to another unknown wallet, the fee constituted 2.04 Dogecoin worth $0.25.

Dogecoinwhales
Image via Twitter

Petition for DOGE tipping on Twitter raises little interest so far

The recently launched petition on Change.org calling for Twitter to enable tipping in Dogecoin has failed to collected 7,500 signatures by now, even it was launched around February 18.

The petition emerged shortly after Dogecoin co-founder Billy Markus asked the Twitter team to add DOGE wallet to the tipping feature on Twitter. Earlier this month, the social media giant rolled out Ethereum tipping.

While the prominent Bitcoin advocate Jack Dorsey held the position of the Twitter CEO, he enabled Bitcoin tipping in September last year, as covered by U.Today previously.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.