According to doge whale alertA data tracking service that provides whale alerts for transactions of more than four million DOGEs, 3.2 billion DOGEs worth approximately $218 million have been moved to cold storage by Robinhood.
sees like @RobinhoodApp just moved to 3.2B $DOGE (approximately $218M USD value) Possibly for cold storage. I#dogecoin
— ogecoin whale alert (@DogeWhaleAlert) 19 July 2022
By keeping digital assets offline, cold storage wallets are believed to provide security for them during market volatility. When holding a cryptocurrency for a longer period, investors often move it to a cold wallet.
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100,000,000 $DOGE ($6,705,100 USD) a . was transferred from #Robin Hood wallet for one #Robin Hood purse.
Fee: 10.00 ($0.67 USD)
TeX: https://t.co/rYtMG2tHDo#DogecoinWhaleAlert #whale alert #dogecoin #crypto news
— ogecoin whale alert (@DogeWhaleAlert) 19 July 2022
The data tracker indicated multiple Robinhood wallet-bound transfers within the past 24 hours. fourteen transactions of 100 million dogeDogeWhaleAlert reported that each, valued at around $6.7 million, has been moved from one Robinhood wallet to another Robinhood wallet.
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10,988,259 $DOGE ($724,269 USD) from multiple wallets with a . was transferred to #top20 purse.
Fee: 1.06 ($0.07 USD)
TeX: https://t.co/764AE1483b#DogecoinWhaleAlert #whale alert #dogecoin #crypto news
— ogecoin whale alert (@DogeWhaleAlert) 18 July 2022
Other reported transactions include: 10,988,259 doge The value of $724,269 is being transferred anonymously from multiple wallets to the top 20 wallets.
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599,999,900 $DOGE ($40,226,993 USD) a . was transferred from #Robin Hood Wallet for an unknown wallet.
Fee: 2.00 ($0.13 USD)
TeX: https://t.co/OtIPLTfPbd#DogecoinWhaleAlert #whale alert #dogecoin #crypto news
— ogecoin whale alert (@DogeWhaleAlert) 19 July 2022
The data tracker also reported two separate transactions 599,999,900 doge $40,226,993 and 999,999,996 DOGE worth $66,914,000, moved from Robinhood wallet to an unknown wallet.
Robinhood has 40.1 billion DOGE on behalf of investors
#Robin HoodThe two known wallets—3334959 and 1699275—use eight known addresses. total combined amount of #dogecoin Held by RH on behalf of its investors:
40,138,384,330 $DOGE
— ogecoin whale alert (@DogeWhaleAlert) 18 July 2022
$2,723,389,377 USD
30.25% of the circulating supplyhttps://t.co/iWz81VqNuc
According to doge whale alertThe combined amount of , 40,138,384,330 DOGE, valued at $2,723,389,377, is being held by Robinhood on behalf of its investors. This is 30.25 per cent of the total supply.
Robinhood’s two known wallets, 3334959 and 1699275, use eight known addresses to hold these funds.
At the time of publication, Dogecoin (DOGE) was trading slightly lower at $0.066.