Robinhood Becomes a Major Player in the Shiba Inu World with a Surprising Amount of SHIB Tokens - COINTURK NEWS
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Robinhood Becomes a Major Player in the Shiba Inu World with a Surprising Amount of SHIB Tokens

9:04 pm (30 days ago)
September 2, 2023

Robinhood has emerged as a significant player in the Shiba Inu world with an astonishing 34 trillion SHIB tokens, showcasing its impressive power. With this remarkable achievement, Robinhood has secured its position as one of the largest holders of SHIB tokens. The trading platform is also the fifth-largest investor in Ethereum (ETH) and has a significant Bitcoin portfolio worth approximately $3.2 billion.

Robinhood and Shiba Inu

Robinhood’s accumulation of SHIB tokens was more than just an impressive feat with rapidly increasing assets. Just three weeks ago, the company held around 20 trillion SHIB tokens worth approximately $197.4 million.

However, the latest data reveals that Robinhood has surprisingly added 14.086 trillion SHIB tokens to its portfolio, increasing its total SHIB assets to approximately $279.85 million, symbolizing a staggering 70.4% increase. Interestingly, this increase in held coins coincides with the reactivation of Shibarium, Shiba Inu’s layer-2 scaling solution.

Upon further examination of Robinhood’s wallets, it is evident that the exchange holds the 34 trillion Shiba Inu tokens in three main wallet addresses:

0x40B38765696e3d5d8d9d834D8AaD4bB6e418E489 (20 trillion SHIB)

0x73AF3bcf944a6559933396c1577B257e2054D935 (7.44 trillion SHIB)

0x2eFB50e952580f4ff32D8d2122853432bbF2E204 (6.59 trillion SHIB).

The Impact of Shibarium on Shiba Inu

The recent reactivation of Shibarium has significant effects on the entire Shiba Inu ecosystem. Specifically, the platform has witnessed a 564% increase in wallet addresses and a 71.3% increase in transactions.

These statistics indicate a rapidly expanding ecosystem surrounding the SHIB token, and Robinhood’s decision to increase its SHIB assets demonstrates a calculated move to capitalize on the token’s growing popularity and ecosystem.

Shiba Inu (SHIB) Market Performance

Despite Robinhood’s notable achievements and the growing Shiba Inu ecosystem, market sentiment around SHIB continues to show a downward trend. In the last 24 hours, the token experienced a clear loss with a decrease in price to $0.000007982.

The rise of Robinhood as one of the largest holders of Shiba Inu tokens further solidifies its position in the crypto sector. With a continuously expanding portfolio that includes significant assets like Ethereum and Bitcoin, Robinhood continues to leave an indelible mark in the crypto world.

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