438.4 Million Dogecoin Moved to Robinhood for Fee That Easily Beats Any Bank
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
@DogeWhaleAlert has tweeted that over the past 24 hours, over half a billion Dogecoin were transferred between anonymous whales and the Robinhood investment app. In total, 792 million DOGE have been sent.
Fees charged for these transactions were so tiny that no bank in the world could offer them.
593.5 million Dogecoin moved to Robinhood
A tracker of large DOGE transactions, @DogeWhaleAlert, has spotted several massive DOGE lumps moved to the popular Robinhood trading app. Meanwhile, a lot more small DOGE transfers were noticed moving between anonymous crypto addresses.
?????????????
— Ðogecoin Whale Alert (@DogeWhaleAlert) May 2, 2022
250,000,000 $DOGE ($32,816,750 USD) was transferred from multiple wallets to a #Robinhood wallet.
Fee: 2.00 ($0.26 USD)
Tx: https://t.co/B3aoLaTnAk#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
The two biggest DOGE chunks transferred to the Robinhood platform today contained 250,000,000 and 188,419,761 meme tokens worth $32,816,750 and $24,673,002, respectively, for tiny fees of $0.26 and $0.16. These fees for such large amounts of funds easily outstrip any bank, centralized payment platform or financial institute in the world.
The first of the two transactions was performed from multiple wallets. The second was made from an anonymous address.
?????????????
— Ðogecoin Whale Alert (@DogeWhaleAlert) May 2, 2022
188,419,761 $DOGE ($24,673,002 USD) was transferred from an unknown wallet to a #Robinhood wallet.
Fee: 1.24 ($0.16 USD)
Tx: https://t.co/3g4NAjvMEv#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
Aside from that, smaller chunks of 22 million, 30 million and 155 million coins were also sent to Robinhood.
Beyond that, 129,339,856 Dogecoin were moved between anonymous digital wallets. The fee was also incomparable to what banks usually charge—$0.99 in DOGE.
As of now, Robinhood holds a total of 40,438,445,406 DOGE for its customers—30.48% of the coin's circulating supply. This amount of the biggest meme crypto is worth $5,278,066,333.
Yuri Molchan2.69 million DOGE sent without internet
As reported by U.Today, a single transfer of 2.69 million Dogecoin was made yesterday—on May 2—the equivalent of $357,926.
This was the second transaction of the original meme cryptocurrency made without the use of the internet. It was conducted via RadioDoge. The first transaction ever of its kind was made in April as an experiment. The transfer fee for it was even lower than the ones mentioned above: 0.00226 DOGE.
RadioDoge uses cheap radio technology (HF/LoRaWAN) combined with Elon Musk's Starlink satellite network that provides an internet connection to distant corners of the world that are not covered by a regular internet connection.
Related articles
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team