An anonymous individual has made a massive withdrawal of 1.75 trillion Shiba Inu tokens from the Robinhood exchange, continuing their trend of accumulating the cryptocurrency as its price declines.
Whale Alert, an automated market tracker, recently recorded a significant outflow of Shiba Inu tokens from the popular American exchange, Robinhood. Specifically, on May 1 at 10:48 PM (UTC), 875 billion Shiba Inu tokens, valued at over $19.67 million, were transferred from Robinhood to an anonymous wallet. Remarkably, within a minute of this transaction, an equal amount of SHIB tokens was moved from Robinhood to another unidentified wallet.
Interestingly, the 875 billion Shiba Inu tokens made their way to the same anonymous wallet, known as “0x73af3bcf.” In total, this individual has withdrawn a staggering 1.75 trillion SHIB tokens from Robinhood, totaling a value of $39,346,292.
Data from Etherscan reveals that the recipient wallet currently holds the withdrawn SHIB tokens. Furthermore, this wallet has been accumulating various digital assets, such as AERO, LIBRA, and LINK, from other exchanges like Uniswap throughout the month of April.
Before the recent influx of 1.75 trillion Shiba Inu tokens from Robinhood, the anonymous wallet had sent 3 trillion SHIB tokens to the exchange on April 24. Additionally, five days prior to that, the wallet sent 4 trillion SHIB to Robinhood after receiving numerous Shiba Inu token inflows from the exchange.
In total, this wallet has sent 8.7 trillion SHIB tokens to “Robinhood 2” over the past 30 days, despite receiving a greater amount during the same period. As of now, the whale wallet holds over 5.88 trillion Shiba Inu tokens, valued at $128,072,631.
Interestingly, most transactions involving Shiba Inu tokens within the “0x73af3bcf” wallet have originated from and been sent to the Robinhood wallet. This pattern, coupled with the substantial SHIB holdings, strongly suggests a connection between the “0x73af3bcf” wallet and Robinhood.
Whale Alert has also documented significant inflows from trading platforms CryptoCom and Wintermute to anonymous wallets in April. Over the past 30 days, these platforms have accumulated over 1.154 trillion SHIB tokens.
Despite a decline of over 20% in the past month, the accumulation of Shiba Inu tokens continues. Currently, SHIB is trading at $0.00002182, with a minimal 1% gain in the last 24 hours.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.
