Robinhood owns fifth-largest Ethereum wallet, holding $2.54B in ETH

Arkham Intelligence said on Aug. 30 that the trading app company Robinhood holds the fifth-largest account on the Ethereum blockchain. The intelligence platform previously identified Robinhood as the owner of the third-largest Bitcoin address, which holds 118,300 BTC ($3 billion).

Timeline of Ethereum

In a remarkable turn of events, the crypto community was recently captivated by the reawakening of a dormant Ethereum whale. The Dormant Whale's Resurgence Lookonchain, a prominent blockchain analytics platform took to the X platform to announce that an Ethereum whale, inactive for a staggering two years, had deposited a substantial amount of 6,087 ETH

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Investment and trading platform Robinhood has emerged as a significant holder of cryptocurrency, with its fifth-largest Ethereum (ETH) wallet containing $2.54 billion, according to data from Arkham Intelligence. These funds are securely maintained to manage user balances, reflecting the company's custody approach.

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