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Binance Announces Rewards for Dogecoin Users

Wed, 07/20/2022 - 11:52
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Tomiwabold Olajide
Dogecoin new users to receive welcome rewards from Binance
Binance Announces Rewards for Dogecoin Users
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Cryptocurrency exchange Binance has announced new rewards for Dogecoin users. The top crypto exchange has introduced a new series of locked staking activities that enable users to stake Dogecoin and earn APYs of up to 10%.

Additionally, Binance introduced new incentives for signing up for Binance Savings. Up to the end of the event, users who have never signed up for a savings product can benefit from double APY benefits with Dogecoin.

In May, Binance released the Dogecoin proof-of-asset wallet that backs the DOGE-BSC supply after much push from the community.

Robinhood moves billions of Dogecoins

According to Dogecoin-focused Twitter account Mishaboar, stock brokerage app Robinhood moved a huge amount of Dogecoin — reportedly 4.57 billion Dogecoin valued at nearly $321 million — from one of its addresses to a previously unknown address. This might be due to different reasons but most likely a reorganization of its cold storage wallets.

According to DogeWhaleAlert, "Robinhood might be consolidating a lot of the dogecoin they hold into a new cold wallet":

Data tracking service DogeWhaleAlert also reports 17 Robinhood address-bound transfers, each carrying 175,000,000 DOGE valued at nearly $11.98 million.

In other news, self-custody Dogecoin wallet MyDogeWallet records a whopping 80,000 transactions within the last 24 hours. According to WhaleStats, Dogecoin once again ranked among the most used smart contracts among the top 1,000 BSC whales in 24 hours.

Dogecoin was trading up 10.39% at $0.073 at the time of publication.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.