Crypto analytics platform Arkham Intelligence has revealed monetary providers firm and crypto buying and selling platform Robinhood as a number one holder of Ether (ETH) and the proprietor of the fifth-largest ETH pockets, which accommodates about $2.54 billion of the cryptocurrency.
Arkham Intelligence acknowledged on social media that their recognition of Robinhood possessing the third-largest Bitcoin pockets garnered important consideration. Nevertheless, they mentioned, much less consideration has been paid to their identification of Robinhood because the holder of the fifth-largest ETH pockets. In a separate replace, Arkham emphasised that these funds are beneath custody for consumer balances.
The present largest Bitcoin wallets on this planet, in accordance to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin chilly wallets.
Our identification of Robinhood because the proprietor of the third-largest Bitcoin pockets was extensively lined.
However most protection missed that we’ve additionally recognized them because the proprietor of the Fifth largest ETH pockets, holding $2.54B of ETH.
0x40B38765696e3d5d8d9d834D8AaD4bB6e418E489 pic.twitter.com/Sczj11uLlA
— Arkham (@ArkhamIntel) August 30, 2023
Based on Arkham Intelligence, a pockets related to Robinhood holds varied different cryptocurrencies, reminiscent of 122,076 BTC ($3.3 billion), 34.1 trillion Shiba Inu (SHIB) ($277.8 million), 4.9 million LINK ($29.7 million) and a pair of.6 million AVAX ($29.6 million). Regardless of its prominence in inventory buying and selling, Robinhood’s cryptocurrency buying and selling exercise has seen a decline, with second-quarter crypto income dropping to $31 million from the preliminary quarter’s $38 million.
On Wednesday, Aug. 30, the corporate introduced the enlargement of its pockets product, incorporating “custodial, sending, and receiving capabilities for Bitcoin and Dogecoin,” alongside the present characteristic of facilitating Ethereum swaps. This enhancement is a direct response to consumer calls for for broader assist, as acknowledged by the corporate.
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Upon its preliminary launch in March, the Robinhood Pockets launched self-custody providers, catering to the Polygon and Ethereum networks. It additionally encompassed varied tokens like COMP, MATIC, SHIB, SOL, UNI, together with the USDC stablecoin.
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