Robinhood Holding 25% Dogecoin Supply: Report
25% of the circulation supply of Dogecoin is on the Robinhood platform.
Robinhood is a publicly traded firm, known to provide crypto & stock trading. Initially, this platform was launched in 2013 by Vladimir Tenev and Baiju Bhatt, and focussed on stock trading for Institutions but later in 2020 the company shifted its inclination toward the crypto sector and started to provide Bitcoin trading. To this date, Robinhood provides trading of more than two dozen crypto assets.
On 7 April 2023, the Dogecoin whale alert tracker noted that Robinhood’s crypto wallet held 33,562,118,437 $DOGE, on behalf of the customers. This amount of Dogecoin is equal to 24.17% of the total circulation supply of Dogecoin.
Few media reports noted that Robinhood grabbed huge numbers of Dogecoin traders somewhere between Q4 2020 to Q1 2021 when Dogecoin’s popularity was at a very high level and Robinhood was promoting its crypto trade service as a free-of-cost platform.
Around a week ago, the giant social media platform Twitter replaced its company logo with Dogecoin’s logo and that acted positively for the Dogecoin trade price. In the last week, Dogecoin surged by approximately 30%.
The majority of the small traders tried to accumulate more Dogecoin for their portfolio but opposite of it many big holders sold their Dogecoin holdings for a profit.
Dogecoin price
The current trade price of Dogecoin is $0.081 & this trade price is 25% high over the last 30 days of trade price.
HOOD price
Robinhood trades on the Nasdaq exchange under the HOOD index. The current trade price of HOOD share is $10.01 & this trade price is 6% high over the last 30 days of trade price.
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