Robinhood exchange is holding almost 31% of DOGE

Robinhood trading platform is one of the most controversial platforms in the world of digital assets due to privacy concerns. However, following the services that the platform offers, still many investors and traders are using the exchange. Recently, it has been reported that the firm is holding almost one-third of the total Dogecoin supply. In contrast, reports claim that Robinhood holds about 32% of the total DOGE in circulation. Meanwhile, anonymous whales have transferred 810 million Dogecoins.

Robinhood holds over $5 billion worth DOGE

The popular crypto assets trading platform has announced that the share of the original memecoin on the platform comprises almost 32% of the total circulation. According to the data, it is observed that currently the firm is holding a whopping 42,436,664,891 Dogecoins that is worth more than $5.39 billion.

Notably, the exchange holds the DOGEs on behalf of its clients. According to experts, the platform’s launch of crypto wallet is the reason behind the holdings. The Robinhood’s users now can withdraw cryptocurrency and send it to third party addresses as well.

Moreover, it is unveiled that the crypto and stocks trading platform stores DOGE on two wallets, using eight addresses.

Anonymous whales are shifting DOGE

Following the Robinhood news, DogeWhaleAlert also underscored that an anonymous wallet has transferred more than 810 million coins. According to the reports, the anonymous whale has made three large transfers of DOGE, two days ago.

In three different transactions, the whale has moved more than 800 million coins. In contrast, one of the lumps carried 400,781,942, whereas the other two carried about 205 million coins that were worth more than 25 million.

Following the shifting of Dogecoin by the coins for the first time from multiple addresses to an anonymous wallet, the transaction fee was 12.92 coins. And as the funds were moved to another unknown wallet, the fee constituted was only 2.04 DOGE, that is worth a few cents.