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.