Ethereum

Shift

Solana

Bitcoin

Chainlink

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to <a href="https://twitter.com/jconorgrogan/status/1777016899567604095" rel="noopener noreferrer nofollow">Conor Grogan</a>, director of Coinbase, who goes by the handle "Conor" on X, Robinhood, the popular trading platform, has made significant adjustments to its cryptocurrency holdings over the past six months.
The platform has seen a remarkable surge in its Bitcoin holdings, increasing by 14% while decreasing its Ethereum holdings by 9%. Robinhood also doubled its Chainlink (LINK) holdings, per the screenshot provided by Conor.
<blockquote>
 Robinhood's BTC holdings have increased by ~14% in the last 6 months; meanwhile user ETH holdings have actually decreased ~9%Retail users are beginning to come back to crypto, just not to ETH so far <a href="https://t.co/PQLCswHHNF" rel="noopener noreferrer nofollow">pic.twitter.com/PQLCswHHNF</a>— Conor (@jconorgrogan) <a href="https://twitter.com/jconorgrogan/status/1777016899567604095?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 7, 2024</a>
</blockquote>
This unexpected shift in strategy has raised eyebrows within the cryptocurrency community and prompted speculation about the platform's motivations and implications for the broader market.
<a href="https://u.today/332-billion-shib-moved-to-robinhood-address-whats-happening" rel="noopener noreferrer nofollow">Robinhood</a>'s decision to bolster its Bitcoin holdings comes amid a period of heightened interest in and adoption of the world's largest cryptocurrency. While the exact reason for the shift is unknown, what remains clear is that Robinhood's move has sparked a buzz on the market.
Bitcoin, often hailed as digital gold and a store of value, has witnessed a surge in institutional interest and mainstream acceptance, driving its price to new heights.
Conor highlights that Robinhood's cold storage address is the third largest single BTC wallet, holding 69% of all BTC ever created. Against this backdrop, Robinhood's move to increase its Bitcoin exposure might suggest growing confidence in the cryptocurrency's long-term potential and investment appeal.
However, the platform's simultaneous decrease in Ethereum holdings by 9% has sparked intrigue and speculation. According to Conor, this could indicate that retail users are returning to crypto but not to ETH thus far.
In a surprising revelation, Robinhood does not hold Solana since they force-sold it on behalf of all of their users for $14, the absolute bottom, missing out on the 1,300% returns since then. Robinhood delisted Solana from its platform in June 2023.
At the time of writing, BTC was up 4.12% in the last 24 hours to $72,130, while Ethereum was higher at 6.75% to $3,608.&nbsp;

Robinhood's 14% Unexpected Shift From Ethereum to Bitcoin Rattles Markets

U_Today

8 Nis 2024 tarihli diğer yazılar

Solana Battles Network Congestion As Meme Coin Transactions Soar

Three Most Popular AI Tokens Plans to Merge

BlockDAG Leads 2024 Crypto Tech and Presale: 20,000x ROI – What about the ETH Price Forecast and ...

XRP Price Prediction Highlights, Growth Tendencies In The Crypto

Analis: Harga Bitcoin Tidak Mungkin Menyentuh US$50.000 Lagi

91% of Coinbase’s Base Meme Coins at Risk: Vulnerabilities Exposed

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!