Arkham Intelligence has identified Robinhood as the fifth-largest holder of Ethereum (ETH) and holder of 34 trillion Shiba Inu (SHIB) tokens.
Earlier this month, Arkham Intelligence also named Robinhood as the owner of the third-largest Bitcoin wallet, with holdings equivalent to around $3.2 billion.
Our identification of Robinhood as the owner of the third-largest Bitcoin wallet was widely covered.
But most coverage missed that we’ve also identified them as the owner of the 5th largest ETH wallet, holding $2.54B of ETH.
— Arkham (@ArkhamIntel) August 30, 2023
It was revealed that in addition to Bitcoin and Ethereum, Robinhood also owns 34.086 trillion Shiba Inu tokens, equivalent to about $279.85 million at the current market price.
Data shows a steep rise in Robinhood’s SHIB holdings, registering a 70.4% increase within 20 days. On August 10, the firm held around 20 trillion SHIB, equivalent to $197.40 million.
In just 20 days, Robinhood added an additional 14.086 trillion SHIB tokens to its holdings.
The increase in SHIB holdings coincided with the public reopening of Shibarium, the layer-2 scalability solution of the Shiba Ecosystem. It is believed that this reopening may have led to an increase in Robinhood’s SHIB holdings.
Data shows that shortly after Shibarium’s public relaunch, it registered 431,765 wallet addresses and about 600,000 transactions. This represents a 564% growth in addresses and a 71.3% rise in transactions.
The post Here’s How Much Shiba Inu (SHIB) Robinhood Added in 20 Days appeared first on CryptoPotato.
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