#BTC Massive amount of Dogecoin has been transferred to popular trading venue by unknown wallet
300 million Dogecoin land on Robinhood
Trillions of SHIB moved to Robinhood as well
Dogecoin price attempts to break out
Popular cryptocurrency tracking account on X/Twitter Whale Alert has published a tweet about a jaw-dropping amount of the leading meme coin getting transferred to the Robinhood exchange.
Among them were hundreds of millions of Dogecoin (DOGE). This mammoth transaction took place while the DOGE price has been making desperate attempts to break out.
300 million Dogecoin land on Robinhood
Whale Alert spread the word about a total of 300,000,000 DOGE moving from an anonymous wallet to the trading platform Robinhood, which offers its customers cryptocurrencies and traditional stocks to invest in.
This amount of meme coins is the equivalent of $47,921,394. Data shared by the above-mentioned source revealed that, in fact, a lot more DOGE was transferred than that. While 300,000,000 DOGE went to Robinhood, 129,693,892 DOGE were transacted to another anonymous wallet, which now holds 1,733,699,458 Dogecoin.
🚨 🚨 300,000,000 DOGE (47,921,394 USD) transferred from unknown wallet to Robinhoodhttps://t.co/S8E1ZeJVQS
— Whale Alert (@whale_alert) April 24, 2024
This DOGE transfer was preceded by a mind-blowing transaction of another popular meme cryptocurrency, the second largest in terms of market capitalization after DOGE – Shiba Inu.
Trillions of SHIB moved to Robinhood as well
Whale Alert detected that a staggering 3,000,000,000,000 SHIB worth $79,947,000 in fiat were also ejected from one anonymous wallet into another. Etherscan revealed that the receiving address belongs to Robinhood, as in the case with the Dogecoin transfer.
As reported by @WISE CRYPTO NEWS earlier this week, another unknown whale purchased a massive chunk of #Memecoins – 237.8 billion Shiba Inu – sending it to a cold wallet. That purchase was equal to $6,290,435 and was made soon after enigmatic SHIB lead Shytoshi Kusama, and the $SHIB team announced they had raised $12 million from respectable investors for building a layer-3 solution on top of Shibarium. The new L3 blockchain will be focused on the privacy and security of transactions and user data.
#Dogecoin‬⁩ price attempts to break out
Meanwhile, the first meme cryptocurrency, $DOGE , has been striving to recover and break out. Over the past 24 hours, the #bitcoin parody inspired by memes has managed in gain 4.23%.
Still, it was followed by a slight decline and, overall, the meme cryptocurrency continues to move within the $0.1624 range since Sunday. This is the price tag it is changing hands at at the time of this writing.
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#BinanceLaunchpool Ripple CTO #DavidSchwartz weighs in on Ripple shares versus XRP amid IPO deliberations, sparking community intrigue as Ripple IPO nears
Amid discussions within the #XRPcommunity , Ripple's Chief Technology Officer David Schwartz recently shed light on the dynamics between Ripple shares and $XRP , sparking curiosity as the crypto company explores plans for an initial public offering (IPO).
Schwartz's remarks surfaced during a lively exchange in the community, where enthusiasts sought clarity on his stance regarding Ripple shares versus XRP. Addressing queries about his preference, Schwartz highlighted the liquidity disparity between XRP and privately-held company stocks, emphasizing the former's superior liquidity.
The conversation delved into the complexities of stock ownership, with enthusiasts speculating on Schwartz's potential motives and considerations. Some speculated about the nature of the CTO's holdings and the implications of a potential IPO, while others shared their personal experiences with stock vesting periods and tax implications.
Funny story: I actually may have to sell some more Ripple stock soon in order to buy more Ripple stock. I have some options to buy Ripple stock that I've had for so long, they're close to expiring. But exercising them has a huge tax cost.
— David "JoelKatz" Schwartz (@JoelKatz) April 23, 2024
Schwartz himself chimed in, revealing his discomfort with the level of risk associated with his current stock holdings and hinting at potential future actions to manage this risk. He disclosed the possibility of selling Ripple stock to buy more, citing expiring options and significant tax considerations.
Ripple aims for IPO
Meanwhile, #RippleCEO Brad Garlinghouse's earlier statements about exploring IPO options outside the U.S. remain pertinent. Plans for an IPO are temporarily halted pending resolution of the ongoing legal battle with the SEC. Garlinghouse expressed optimism about the appointment of a new regulator's chief and the potential for improved regulatory clarity, signaling hopes for a future IPO in the U.S.
With Ripple's valuation at a staggering $11 billion and ongoing discussions with investors, anticipation mounts regarding the company's future trajectory.#BTC

#BinanceLaunchpool Coinbase has announced giveaway to commemorate Bitcoin's historic halving event
In a move that has the cryptocurrency community buzzing with excitement, Coinbase, one of the leading cryptocurrency #exchanges , has announced a giveaway to commemorate Bitcoin's historic halving event. 
As part of this celebration, Coinbase will host a weekly Bitcoin giveaway, offering participants the chance to win #BTC in recognition of this pivotal moment in Bitcoin's history.
The #bitcoinhalving , a programmed event that occurs approximately every four years, is a fundamental feature of Bitcoin's monetary policy, designed to limit the supply of new $BTC entering circulation. 
During the halving, the rate at which new Bitcoins are created is cut in half, reducing the rate of supply growth and exerting upward pressure on Bitcoin's price over time.
The most recent Bitcoin halving occurred in the past week, marking the fourth such event in Bitcoin's history. To commemorate this milestone and celebrate the progress of the Bitcoin network, Coinbase has announced a series of weekly giveaways, offering participants the opportunity to win Bitcoin prizes.
"To celebrate the fourth halving, we’re giving away 1 #bitcoin each week between now and May 20. The first drawing is on May 9," Coinbase said in a tweet. 
To celebrate the fourth halving, we’re giving away 1 Bitcoin each week between now and May 20th.
First drawing is on May 9th.
Here’s how to enter ↓https://t.co/LciaL20Ssz pic.twitter.com/6OspOEfKcV
— Coinbase 🛡️ (@coinbase) April 23, 2024
The promotion, which begins on April 19, 2024, at noon Pacific Time, and ends on May 20, 2024, at 11:59 p.m., will see one potential winner randomly drawn from all eligible entries received each weekly period. This culminates in a total of four potential winners throughout the promotional period.
There are three possible methods of entry that are submitting an email address using the form on the Coinbase official page to earn an entry for a chance to win 1 BTC. Second, sign and verify a Coinbase account by May 20 to earn an additional entry. Third, add a payment method and complete the first trade of any amount of crypto by May 20 to earn an entry. A maximum of 10 entries is allowed during the promotion period.
Coinbase says winners will be randomly selected each week and awarded a sum of Bitcoin directly to their Coinbase wallets.

#BTC Billions of $ADA tokens being transferred, but could it affect price?
ADA has witnessed a surge in activity, with the number of large #transactions skyrocketing. A staggering 25 billion ADA were transferred within a 24-hour period. The activity spotted on-chain aligns with ADA's price action and demands a deeper look into the on-chain metrics and their implications for the asset's future.
Delving into the on-chain data, we see a notable spike in the number of large transactions, which often signify substantial wallet movements by whales or institutional players. Such movements can suggest preparation for market developments, bullish or bearish. Furthermore, the large transaction volume, peaking at 27.67 billion ADA recently, reinforces the intensity of this activity.

Source: 
Simultaneously, ADA's price chart displays a tension-filled narrative. After a period of decline, ADA shows attempts at recovery, flirting with the 50-day EMA, currently at around $0.5, yet unable to achieve a clear breakthrough. 
With ADA currently trading just below this critical EMA level, the focus is on whether it can gain the necessary momentum to surpass it. If ADA succeeds, it could encounter the next resistance at approximately $0.55, an ascent that would align with the increased on-chain activity. Conversely, failure to move past the 50 EMA may see ADA retest the support near $0.49, a recent low that might serve as a staging ground for another upward attempt.
Given the current dynamics, the future for ADA depends on the on-chain activity and the surge of buying activity on the market.  Unfortunately, the market is currently taking a break before moving upwards again. Hopefully, the drop of #liquidity and volatility on the market closer to the weekend will not lead to a substantial price drop.
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#bitcoinhalving CryptoQuant CEO Ki Young Ju explains implications for Bitcoin's ownership landscape and potential price volatility
The average Bitcoin (#BTC ) dormancy has surged to a 13-year high, according to recent data shared by Ki Young Ju, the CEO of #CryptoQuant . This uptick in dormancy suggests a significant transfer of older Bitcoins to new holders, potentially reshaping the cryptocurrency's ownership landscape.
On March 23, Bitcoin's Average Dormancy reached a level of 227.684, as indicated by a chart shared by Ki Young Ju on X. Average Dormancy is a metric that represents the average number of "destroyed days" of moved coins. This figure is calculated by dividing Coin Days Destroyed (CDD) by the total movement of coins.

What’s happening?
A higher Average Dormancy value typically indicates that long-term holders are moving or potentially selling their coins, which could signal an impending price drop. The Average Dormancy of #bitcoin hitting a 13-year peak is noteworthy for several reasons. First, the increase suggests that older, long-term holders of Bitcoin are either transferring their holdings or selling them to new investors.
This shift could potentially alter the ownership distribution of Bitcoin, with new participants gaining a larger share of the market. Second, historically, spikes in Average Dormancy have often been followed by increased price volatility. If long-term holders are indeed selling or transferring their coins, it may lead to a greater supply of Bitcoin on the market, potentially putting downward pressure on prices.
Lastly, the rising Average Dormancy could also reflect changing market sentiment among Bitcoin holders. Long-term investors may be responding to macroeconomic factors, regulatory changes or other market dynamics that influence their decision to hold or sell their assets.
Overall, Ki Young Ju's observation about the shifting cap table for Bitcoin underscores the evolving nature of the market. As older Bitcoins are transferred or sold to new holders, the ownership dynamics of Bitcoin are undergoing a significant transformation. Market participants should closely monitor these developments, as they could have far-reaching implications for market sentiment in the coming months.
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