On Wednesday, bitcoin’s value ascended to the vicinity of ,000, during which time users of Coinbase and Robinhood reported disruptions in service. As of Feb. 28, 2024, Coinbase’s status page indicated the platform was suffering from “degraded performance,” while Robinhood’s clientele voiced their grievances to the platform’s support team. Technical Troubles Shadow Bitcoin’s Climb to […]
Bitcoin News
BONK Price Jumps Over 30% As Robinhood, Revolut Listing Speculations Gain Traction
The crypto world is always buzzing, and this week, it’s the Shiba Inu-inspired BONK, built on the Solana blockchain, making the headlines. Its price has experienced a remarkable jump, exceeding 30% in just the past week, fueled by whispers of potential listings on two major platforms: Revolut and Robinhood.
The Spark That Ignited The Frenzy
Rumors emerged suggesting BONK could soon become available to Revolut’s staggering 38 million user base. The speculation didn’t stop there, with talk of a “Learn and Earn” campaign potentially adding another half a million to the BONK community.
Robinhood Whispers Stir The Pot
Robinhood, synonymous with the meme stock frenzy of 2021, is known for its ability to bring lesser-known assets to the forefront. The mere possibility of BONK finding a home on its platform sent the price hurtling upwards.
Barking At The Moon Or Running With The Pack
Before you grab your leash and join the BONK bonanza, remember this: these are just rumors. Neither Revolut nor Robinhood has confirmed anything, and diving headfirst into unconfirmed news is never a sound investment strategy.
Additionally, memecoins are notorious for their wild price swings. BONK itself experienced a meteoric rise of 4,424% in 2023, followed by a sharp correction. While the potential upside is tempting, be prepared for some serious volatility.
Digging Deeper Into BONK’s Territory
It’s crucial to remember that BONK isn’t just a meme coin riding a rumor wave. It has carved its own niche within the Solana ecosystem. Major exchanges like Binance and Coinbase already offer BONK trading, and it even played a role as an incentive within the Solana Saga smartphone project. This suggests that BONK isn’t simply a flash in the pan, but a project with some established groundwork.
Investment Considerations: Weighing The Risks And Rewards
The potential impact of major platform listings is undeniable. Increased accessibility could significantly boost BONK’s adoption and potentially positively impact the broader Solana ecosystem. However, the lack of confirmation surrounding the rumors and the inherent volatility of meme coins necessitate a cautious approach. Before investing, thorough research and a clear understanding of the risks involved are paramount.
BONK’s recent price surge serves as a reminder of the fast-paced and ever-evolving nature of the crypto world. While the unconfirmed rumors offer a glimpse of potential opportunities, investors need to proceed with caution, remembering that the path to crypto riches is seldom straightforward. Whether BONK will truly “bark its way” to mainstream adoption or retreat to the shadows remains to be seen.
Featured image from Adobe Stock, chart from TradingView
Robinhood Cash Surge: Sees $4 Billion Monthly Inflow From Users
Robinhood, a significant player in the United States financial technology sector, has recorded major growth. The platform has seen a notable rise in monthly user inflow.
Robinhood Monthly Deposits Surges To New Height
A correspondent at CNBC, Kate Rooney, recently shared the development with the crypto community on the X (formerly Twitter) platform. The CNBC reporter said Robinhood recorded increased profits in its most recent quarterly results.
Rooney pointed out that the platform is making some headway in its attempt to overtake established “brokerage companies” for market dominance. Additionally, Robinhood aims to expand beyond its “original base of inexperienced and younger traders” in the crypto market.
She further highlighted that over 0 billion of the firm’s assets are currently “under custody.” In addition, a “net positive transfer from every major brokerage competitor” drove the Q4 deposits to approximately .6 billion.
Consequently, this suggests its increasing popularity among investors looking to include digital assets in their portfolios for diversification. It also indicates the growing confidence and inclination toward the trading firm among crypto investors.
The CNBC correspondent asserted that the numbers above consist of an “average customer transfer balance” of 0,000.
As per Rooney’s X post, Robinhood saw a substantial rise in monthly deposits valued at billion in January. So far, the recent uptick signifies the online trading platform’s strongest month since early 2021.
During the same quarter last year, the trading platform lost 6 million, or .19 per share. However, this year, it made a profit of million, or .3 per share.
As was revealed, Robinhood’s income rose due to increased net interest and transaction-based and other revenue streams. Over the three months, its net interest income grew by 4% to 6 million.
Taking Over The Active Trader Market
Vlad Tenev, Robinhood’s Chief Executive Officer (CEO), has revealed Robinhood’s intentions to take over the active trader market. Tenev recently disclosed this objective during a quarterly earnings call.
He stated that the firm’s user base and revenue have grown “nearly seven times” in the past four years. “looking at what is in front of us, we are excited by the opportunity to continue growing significantly from here,” he added.
Robinhood has gained market share and attracted net asset inflows from its major rivals. According to Tenev, the company will continuously invest in its “user experience on mobile” to achieve its goal.
Currently, the crypto enterprise stands out as the dominant player in market share. Tenev has confirmed the addition of futures and index options to the platform in the coming months of this year.
Dogecoin Massive Dump: 100 Million DOGE Floods Robinhood, Investors Brace For Price Impact
In a surprising turn of events within the cryptocurrency realm, Dogecoin (DOGE), the popular meme coin, experienced a frenzy in the broader crypto market. The cause of this excitement was a recent significant whale transaction that caught the attention of traders and investors globally.
DOGE Whales: Surging Transfers, Market Speculations
According to blockchain metrics highlighted by the tracker Whale Alert, a staggering 100 million DOGE, equivalent to .83 million, was observed on the move. This notable transfer from an unknown wallet, identified as …wwKF, to the renowned American financial services provider Robinhood, sparked immense curiosity among crypto enthusiasts worldwide.
100,000,000 #DOGE (7,836,678 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/REEoqcGAoe
— Whale Alert (@whale_alert) February 7, 2024
Despite expectations of a price dip due to such a substantial selloff by the whale, DOGE managed to trade in the green as of press time. This unexpected movement fueled speculations about a potential run for the meme coin in the near future. Market participants eagerly observed the impact that the colossal selloff might have on DOGE’s price.
In addition to the whale transaction, the token witnessed a surge in wallet adoption in recent days. On-chain analytics firm Santiment reported that approximately 414,000 non-zero wallets were added to the DOGE network over the past two weeks, marking the fastest rate of growth in the brief history of the memecoin.
The growth in wallet adoption primarily stemmed from retail investor cohorts, as indicated by the dramatic increase in addresses holding between 0.001-1 coins. This surge in new users joining the DOGE community can be attributed to the cryptocurrency’s cult status in the meme coin space and its widespread popularity.
Interestingly, while the DOGE price experienced a marginal jump at the time of the whale transaction, the subsequent market trends displayed a gradual downward momentum. The weekly and monthly charts indicated a drop of 1.5% and 3.1%, respectively. The contrasting movements in the DOGE price and the whale’s massive selloff, coupled with the decrease in open interest by 2.2%, raised questions about the overall market sentiment.
Dogecoin’s Potential Shift: Enthusiasts Await Action
Crypto market enthusiasts worldwide are closely monitoring DOGE, eagerly anticipating a potential shift in price action. The influx of new users and the increased number of non-zero wallets added to the network have added to the intrigue surrounding the meme coin.
While the recent whale transaction and the surge in wallet adoption have generated excitement within the DOGE community, it is essential to exercise caution when navigating the highly volatile cryptocurrency market. Factors such as market sentiment, global events, and regulatory developments can have a significant impact on the future price movements of DOGE and other cryptocurrencies.
Meanwhile, a recent analysis of Coinglass data by NewsBTC reveals a consistent trend where negative short bets on Dogecoin have consistently outnumbered bullish long bets over the past week.
This divergence in sentiment within the options market adds complexity to the DOGE landscape, signaling caution among traders and suggesting uncertainty about the sustainability of recent positive price movements.
Featured image from Freepik, chart from TradingView
Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours – Here’s The Scoop
On the widely-used trading platform Robinhood, Shiba Inu, frequently hailed as the “Dogecoin slayer,” has sparked a surge of enthusiasm within the cryptocurrency realm.
In a remarkable turn of events, Robinhood amassed a staggering 231 billion tokens within a mere 24 hours, boldly proclaiming its presence in the crypto arena.
This surge in popularity, according to crypto enthusiast Lola in her latest analysis, has catapulted SHIB to the coveted third position on Robinhood’s crypto podium, leaving established players like Litecoin and XRP trailing in its wake.
Robinhood Stuffs More SHIB To Its Cart
The Robinhood platform is not the sole arena where Shiba’s charm is proving irresistible. Based on insights from the crypto intelligence firm Arkham, in alignment with Lola’s observations, Robinhood’s SHIB holdings have expanded significantly to a jaw-dropping 36.684 trillion tokens, with an estimated value of approximately 0 million.
My #Robinhood Tweet yesterday shows 36.454 Trillion #SHIB by Robinhood from data provided by Arkham
and now in less than 24 hours , they have 36.684 Trillion $SHIB . 231 Billion Shiba INU added on that exchange
They are accumulating while #TRADEFI accumulating #Bitcoin…
— Lola (@CryptoLollla) January 17, 2024
This data, coupled with information from IntoTheBlock, paints a vivid picture of a full-blown Shiba stampede that is reshaping the crypto landscape.
Whales, considered the apex predators in the vast ocean of cryptocurrencies, seem to have fallen head over flippers for the meme coin. IntoTheBlock’s metric tracking “Large Holders Netflow” has recorded an astonishing spike of 1,542%, indicating a substantial accumulation of SHIB by these influential market players.
Whale Appetite Soars
This whale enthusiasm extends to a remarkable 181% surge in “Large Holder Inflow” and a staggering 551% increase in the “Whale Activity Index.” The collective movement of these whales resembles a synchronized swimming routine of the crypto elite, all with their synchronized wallets pointed towards SHIB.
Fresh whale wallets accumulated $SHIB, #BIGTIME, $MKR and $RNDR today!
0xF633 withdrew 1.44T $SHIB(.36M) and 3M #BIGTIME(.2M) from #Binance and #Gateio in the past 2 days.https://t.co/OkHSaNTFV9
0xAdf5 withdrew 1,075 $MKR(.9M) from #Binance 4 hours ago.… pic.twitter.com/b83nvDsP8g
— Lookonchain (@lookonchain) January 9, 2024
The feeding frenzy intensifies with the emergence of a new Shiba whale, devouring a substantial 1.44 trillion tokens.
The Robinhood-Shiba rendezvous and the orchestrated dance of the whales suggest a potential boom for the canine coin. Yet, the sustainability of this upward climb remains uncertain.
Shiba Inu, with the backing of Robinhood, Arkham, and the formidable whales, is no longer merely chasing Dogecoin’s tail. It is emphatically staking its claim on the crypto landscape, capturing the attention of the entire world.
Will Shiba Inu continue its upward climb? Only time will reveal the answer. Nevertheless, in the unpredictable realm of crypto, this underdog has undeniably earned its place at the table and is unafraid to bare its teeth in the face of potential growth and challenges alike.
Featured image from Shutterstock
Dogecoin Whale Moves 71 Million DOGE To Robinhood, What Does This Mean For Price?
A Dogecoin whale address recently made a transfer of 71.2 million DOGE valued at .3 million into Robinhood from a private address. According to various social media posts by whale transaction tracker Whale Alerts, large DOGE transfers in and out of exchanges have seen an uptick since the beginning of the week. At the same time, the price of DOGE has traded between a high end of .097 and a low end of .089.
Massive DOGE Transfer Into Robinhood
The uptick in massive DOGE transfers from whales has had investors thinking of the crypto’s outlook in the next few days. When whales make big transfers like this, it often signals they’re about to make a major buy or sell order that can impact the price.
In this case, data from on-chain data shows that the 71.2 million DOGE tokens were transferred from the private address “DF8jRK” to the Robinhood-linked address “DHQsfy.” The token transfer seems to have been a major part of the address’ holdings. At the time of writing, the address “DF8jRK” holds 36.3 million DOGE tokens, worth approximately .3 million.
71,224,271 #DOGE (6,392,254 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/mSNJ8HSSot
— Whale Alert (@whale_alert) December 26, 2023
Consequently, the transfer to Robinhood, a major crypto exchange, suggests the whale may be preparing to sell their DOGE holdings, which could drive the price down.
On the other hand, Whale Alerts has reported other large transfers during the last few days. For example, 367 million DOGE tokens worth .6 million were transferred between two unknown wallets.
Also, 999 million DOGE tokens worth million were sent from Binance to an unknown wallet in the past 24 hours. However, the crypto exchange clarified that the transfer was part of its standard wallet maintenance.
Current State Of Dogecoin
Dogecoin’s price movement this year has generally lacked the volatility and enthusiasm it has experienced from traders in past years. The crypto is currently trading at .09255, down by 0.29% in the past 24 hours, and has been stuck in a sideways movement. On the monthly timeframe, DOGE is up by 16% in the past 30 days.
DOGE recently hit a yearly high of .10 this December. According to crypto analyst Ali Martinez, network activity has increased this month, with a steady rise in the creation of new DOGE addresses.
Dogecoin now has 5.29 million addresses with a balance, reiterating its position as the largest meme coin and the fifth-largest address count in the crypto market. However, IntoTheBlock’s Active Addresses Ratio shows that the majority of these addresses are inactive, with only a 2.73% average in the past 30 days.
$10 Million Worth Of Dogecoin Exit Robinhood – What This Could Mean For Price
On-chain data has revealed more than 112 million Dogecoin tokens recently made their way out of Robinhood into an unknown wallet. DOGE transfers into crypto exchanges have seen an uptick in the past few days, as the crypto continues to struggle to keep up pace compared to other top cryptocurrencies. However, according to Whale Alerts, 112 million DOGE which was valued at roughly .4 million at the time of the transfer, was sent from Robinhood into a private wallet.
Massive Dogecoin Transfer Out Of Robinhood
According to Whale Alerts, the 112 million DOGE tokens were transferred from the Robinhood-linked address “DHQsfy” into the private address “DEndnp.” The tokens were then transferred to another private wallet address “DF8jRK” four hours later.
A further look through on-chain transaction data shows earlier large DOGE transactions between the Robinhood address and private wallet “DEndnp.” On Dec 21, 17.5 million DOGE tokens made their way from Robinhood into “DEndnp.”. At the time of the transaction, this tranche of coins was worth approximately .6 million. Again, the tokens were then transferred to “DF8jRK” four hours later. At the time of writing, “DF8jRK” holds 111 million DOGE tokens, and the pattern of transfers points to the transactions being made by the same entity.
On the other hand, various social media posts from Whale Alerts have shown large DOGE transfers from private addresses into Robinhood over the week. On December 18, a single transaction of over million worth of DOGE was sent into Robinhood.
Crypto whales, or investors holding very large amounts, are always worth keeping an eye on. When whales make big moves, it often means something. They also tend to show general sentiment among whales. However, in this case, million worth of Dogecoin exiting Robinhood could signal that the whale is opting to keep the tokens in self-custody in anticipation of a long-awaited DOGE price surge.
Future Outlook For Dogecoin
Dogecoin is currently trading at .09312, over a newly found support at the .092 level. DOGE went on a run earlier in the month that saw its price reach a yearly high of .0151 on December 11. This growth has since slowed down, and DOGE is now down by %0.6 in a 7-day timeframe.
DOGE whales have increased their holdings by a substantial amount in the past month. According to IntoTheBlock’s Balance By Holdings metric, the balance of addresses holding between 0,000 to million, million to million, and more than million worth of DOGE has increased by 23.28%, 16.41%, and 27% in the past 30 days. Collectively, these large addresses have increased their holdings by .32 billion since December 1.
Dogecoin is currently trading 87% below its all-time high of .74. As a meme token, DOGE’s value is mostly tied to hype among traders, particularly retail investors. If the current bullish momentum among DOGE whales rolls over into retail investors, we could see the cryptocurrency’s strong bullish run in 2024. The first step in its journey to a new high is to find a strong footing over the .1 price level.
Featured images from Shutterstock
Dogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood
The Dogecoin price has been put in a perilous position once more after a DOGE whale made a massive transaction to an exchange. The transaction which was flagged by a DOGE community member has raised eyebrows in the space and could possibly be putting sell pressure on the altcoin.
Dogecoin Whale Transfers Full Balance To Robinhood
On Tuesday, a single transaction carrying over million worth of DOGE was noticed by a Dogecoin community member who posted the transaction on X (formerly Twitter). This transaction caught the attention of the community because it was carrying a little over 85 million DOGE.
At the time of the transaction, this tranche of coins was worth approximately .57 million, making it a large whale transaction. The destination of the transaction was even more concerning given that the coins were being sent to the Robinhood platform.
Now, the reason that this transaction is important is the fact that crypto holders will usually send their coins to centralized exchanges such as Robinhood to sell their coins. This is because they can take advantage of the cheap fees, as well as the deep liquidity provided by these platforms, to enable them to sell such large transactions with ease.
Furthermore, the X user noted an interesting thing about the sender’s address after the transaction. The whale no longer holds any Dogecoin on their account balance, which means they have sent all their coins to the exchange. This could signal that the whale is looking to completely exit their position as Dogecoin fails to launch.
What Happens To DOGE Price?
The DOGE price could be seeing some negative headwinds ahead especially if this whale is really selling their coins. With sell pressure already pushing down the price, selling such a large amount of Dogecoin would no doubt trigger a further decline.
This sell pressure is already evident in the meme coin’s price which has fallen drastically over the past week. In the last day alone, DOGE’s price is down 3.28%, deviating from the Bitcoin trend that has seen the pioneer cryptocurrency recover from yesterday’s lows.
However, there could be a change in this sell pressure soon as bids for the meme coin start to ramp up. According to data from IntoTheBlock, bids are starting to overtake asks again, meaning that buyers are coming back to the market. If this continues, then Dogecoin could look to reclaim .1 once again.
At the time of writing, Dogecoin is trading at .08994, with a 2.37% decline on the weekly chart. Its market cap is sitting at .79 billion, making it the 10th-largest cryptocurrency in the space behind Avalanche (AVAX).
Robinhood Launches Crypto Trading in EU, Aims for Global Accessibility
Financial services firm Robinhood has announced the launch of crypto trading in the European Union. “Like we did with the stock market, it’s our goal to make crypto more accessible and affordable to everyone, regardless of where they live,” the company explained.
Robinhood Expands Crypto Trading Services
Financial services firm Robinhood launched its crypto trading platform in the European Union on Thursday, offering investors the ability to buy and sell more than 25 cryptocurrencies. The announcement details:
Today, we are launching the Robinhood Crypto app to all eligible customers in the European Union (EU).
EU residents aged 18 and over with compatible iOS and Android devices can now access Robinhood Crypto, the company clarified. The announcement further details: “Support for additional tokens, crypto transfers, crypto staking, crypto learning rewards, and more are all expected to launch in 2024.”
Johann Kerbrat, general manager of Robinhood Crypto, commented: “We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all … The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
Robinhood explained that as a publicly traded U.S. company, it is regularly reviewed by third-party auditors and Robinhood Crypto has taken a conservative approach to supporting digital assets.
The platform’s trading volumes across equities, options, and crypto surged in October compared to the previous month, according to data published in November. Equity trading volume jumped 15% to .8 billion, options contracts traded climbed 11% to 96.6 million, and crypto trading volume soared 92% to .3 billion.
The announcement adds:
Like we did with the stock market, it’s our goal to make crypto more accessible and affordable to everyone, regardless of where they live.
What do you think about Robinhood launching crypto trading in the EU? Let us know in the comments section below.
300 Million Dogecoin (DOGE) Moved To Robinhood As Price Swells
The Meme-based cryptocurrency Dogecoin (DOGE) has recently experienced a significant increase in whale transactions during an improvement in the crypto asset’s price.
300 Million Dogecoin (DOGE) Dumped In Crypto Exchange
Data from the on-chain crypto tracker Whale Alert recently revealed that a massive amount of Dogecoin (DOGE) was transferred to Robinhood. This whale transaction has attracted the interest of traders and investors in the larger cryptocurrency space.
According to the crypto tracker, the transfer was orchestrated by an unknown wallet address earlier today. The wallet address identified as DDuXG.ruc1wwKF sent about 300 million DOGE to the cryptocurrency trading platform Robinhood.
The post read:
300,000,000 #DOGE (25,033,123 USD) transferred from unknown wallet to #Robinhood.
With the current price of Dogecoin, the whale transaction is valued at approximately million. The whale moved the substantial Dogecoin haul to Robinhood for a comparatively low network cost of just .18. This is most likely by taking advantage of times when fees and congestion were low.
The transfer of DOGE to Robinhood suggests that the whale is looking to sell the tokens, igniting speculation in the larger cryptocurrency market. However, it seems that the meme-based cryptocurrency’s price increase runs counter to the tokens being dumped on exchanges.
Currently, the price of DOGE is sitting at .0839, indicating an over 2% increase in price in the past 24 hours. Meanwhile, its market capitalization is also reflecting the same percentage rise at .9 billion, according to CoinMarketCap.
A similar whale transaction was also flagged by the on-chain tracker recently. In October, a similar transaction of 300 million DOGE tokens occurred thrice, while last month also saw a similar transaction twice.
Large-scale individual transactions usually come with the danger of crashes due to fast liquidations or market manipulation. However, there is no solid evidence that the whale transaction had any impact on the token’s price.
The Crypto Asset’s Holders Increases Significantly
Dogecoin has shown a significant uptick in its total number of holders lately. Analytics firm IntoTheBlock revealed that the total number of addresses holding a balance exceeded 5 million this week, and reached a high of 5.02 million on November 27. A major factor contributing to the rise in new Dogecoin addresses is the cryptocurrency’s increasing adoption and interest.
The on-chain analytics firm also revealed that the numbers have been increasing gradually since the start of the year. “This recent activity is most likely driven by Dogecoin “Doginals”, which don’t require a significant on-chain balance of $DOGE,” IntoTheBlock said.
DOGE trading at .0833 on the 1D chart | Source: DOGEUSDT on Tradingview.com