According to a recent tweet from @DogeWhaleAlert, brokerage app Robinhood Markets Inc HOOD is holding almost $6 billion in Dogecoin DOGE/USD on behalf of its customers.
The DOGEs are worth of $5,847,347,000. This amount of DOGE held by Robinhood is 31.42% of the entire circulating supply, which is 41,687,447,478 coins.
#Robinhood's two known wallets—3334959 & 1699275—use eight known addresses. The total combined amount of #Dogecoin held by RH on behalf of its investors is:— Ðogecoin Whale Alert (@DogeWhaleAlert) April 2, 2022
31.41% of the circulating supplyhttps://t.co/iWz81VqfEE
On Thursday, Robinhood moved over 48 million DOGE tokens worth $6.6 million to an anonymous address.
Last week, Robinhood carried out three crypto transactions, moving three lumps of 100,000,000 Dogecoin each, between its internal addresses.
Each of those transfers was worth $13,679,600 and each was sent for a tiny fee of $1.37 (10 Dogecoins).
Earlier in February, DogeWhaleAlert reported that Dogecoin whales moved more than 800 million DOGE, worth roughly around $54.2 million.
At the time of writing, DOGE was trading at $0.1402, up 3.38% in the last seven days.
The meme coin has been added by the Bitcoin of America chain of ATMs. That is 1,800 BTMs in around 39 US states.
Also Read: Is Dogecoin More Volatile Than ApeCoin?
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.