Whale Alert recently reported a colossal transfer of 300 million Dogecoin (DOGE), equivalent to approximately $18.25 million, heading toward Robinhood. The transaction took place at 4:27:38 a.m. UTC on Oct. 4. The sender paid a relatively modest fee of just $0.21 USD.
This development comes after Robinhood recently expanded its cryptocurrency services.
Robinhood broadens its crypto services
As reported by U.Today, Robinhood announced an enhancement to its cryptocurrency wallet offerings in August. It extended support for Bitcoin and DOGE in late August.
The development was in response to growing demands from its user base seeking diversification in the available assets on the platform.
The zero-fee trading app initially added support for Dogecoin back in 2018 before adding a slew of new coins in 2022.