Dogecoin has been the talking point of the cryptocurrency city for months and lately, crypto enthusiasts have been debating the biggest holder in the Dogecoin economy. An address with 36.7 billion Dogecoin accumulated 797 DOGE this week and 3,755 coins last month. Crypto speculators think this wallet is a giant whale, while others have assumed it is Elon Musk or the Dogecoin cold store of the Robinhood trading platform.
Random Whale, Elon Musk or Robinhood? Why the Dogecoin DH5ya address is still an unsolved mystery
The cryptocurrency Dogecoin had a phenomenal year so far in 2021, as the meme currency with the face of the Shiba Inu dog is up 15.617% against the US dollar over the year to date. Dogecoin hit an all-time high of $ 0.73 more than 13 days ago recently, but has since fallen to around $ 0.36 per unit. Despite last week’s crypto market, Dogecoin (DOGE) has held up well and is still up 25% in the past 30 days. However, one of the biggest complaints about the Dogecoin economy is the enormous amount of DOGE whale addresses that currently exist.
– Elon Musk (@elonmusk) February 15, 2021
A certain address is famous for various reasons, the main one being that the Dogecoin address “DH5ya” is by far the largest DOGE owner. The owner of this address is a mystery, even if many members of the Reddit forum r / dogecoin disagree.
For example, the Dogecoin address DH5ya was discussed incessantly in the r / dogecoin forum at the beginning of 2021. Three months ago, the Redditor called “u / andreifromaberta” published that the DH5ya address puzzle had been “solved”.
Dogecoin Reichliste on Friday, May 21, 2021.
The person who started the thread notes that they believe the address is owned by Robinhood, the stock and cryptocurrency exchange. In essence, Redditor believes Andrei that it all started on June 26, 2018 and says, “Robinhood Crypto is starting to prepare for the Dogecoin trading start by creating the DQA5 address.” Andrei believes that the DQA5 address is the Robinhood’s hot wallet, while the DH5ya address is a cold storage wallet. With over 4,100 upvotes on Reddit, the “Mystery Solved” thread was popular and a widely believed theory.
Redditors from the r / dogecoin subreddit believed the whale address belonged to Robinhood Markets’ cold store.
Dogecoin Whale Address is still making headlines, Address is spending 100 billion DOGE in 21 transactions valued at over $ 40 million
Despite the theory believed by many people, no one is really sure that the DH5ya DOGE address is Robinhood’s wallet. The DH5ya address continues to make headlines in cryptocurrency publications to this day, and people are still speculating on its moves.
At press time, the DH5ya address is still the richest Dogecoin address as it currently holds 36.7 billion Dogecoin (DOGE). 797 DOGE was acquired by the address owner in the last seven days and 3,755 coins were also collected in 30 days. Since the address was created, it has only sent 21 separate transactions from the wallet, but has received a total of 1,123 inbound transactions.
The DH5ya DOGE address sent a total of 100,434,958 DOGE worth over $ 40 million using today’s Dogecoin exchange rates. Elon Musk, the CEO of Tesla, was an ardent supporter of Dogecoin and in mid-February he tweeted that he “will literally actually pay”. [dollars] if they just cancel their accounts. ”The Tesla CEO also added that“ too much focus is the only real problem ”with the DOGE ecosystem.
Robinhood CEO Vlad Tenev discusses the company’s crypto positions
This May showed the public that the assumptions about Robinhood’s DH5ya whale address can be false and only speculation.
Despite all the armchair detectives pointing to incidental evidence that the DH5ya address is Robinhood’s, Vlad Tenev, CEO of Robinhood Markets, put an end to these speculations in a “fireside chat” on May 6th. Tenev said the company only gives customers access to their specific inventory, further stating:
We have no significant positions in the coins that we hold on a proprietary basis or similar.
Since no one can officially confirm that the DH5ya address is Robinhood’s DOGE cold storage wallet, the address owner remains a complete mystery. Some people will continue to believe the address belongs to Musk himself, while others still wholeheartedly believe that the address belongs to Robinhood.
A quote from Tom Robinson, co-founder of blockchain monitoring firm Elliptic, posted on Bloomberg in February states that the DH5ya Dogecoin address was created in June 2018 and Robinhood actually called DOGE Trades the following month.
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What do you think of the mysterious Dogecoin address DH5y? Let us know what you think on this matter in the comments below.
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