Dogecoin has been the topic of the hometown of cryptocurrency for several months. Recently, crypto enthusiasts have been discussing the largest holder of the Dogecoin economy. An address with 36.7 billion Dogecoins recently accumulated 797 DOGE this week and 3,755 coins last month. Cryptocurrency speculators think that this wallet is a huge whale, while others think it is the Dogecoin cold storage of Elon Musk or trading platform Robinhood.
Right whale, Elon Musk or Robin Hood?Why the Dogecoin DH5ya address is still an unsolved mystery
So far, the cryptocurrency Dogecoin has had an amazing year in 2021, because the memetic currency featuring Shiba Inu Dog’s face has so far increased 15,617% against the US dollar. Recently, the price of Dogecoin hit a record high, which was US$0.73 higher than 13 days ago, but has since fallen to about US$0.36 per unit. Although the cryptocurrency market fell sharply last week, Dogecoin (DOGE) performed well and has risen by 25% in the past 30 days. However, one of the biggest complaints about the Dogecoin economy is the large number of DOGE whale addresses currently owned.
A particular address is famous for many reasons, the biggest reason being that the Dogecoin address “DH5ya” is by far the largest DOGE owner. Although many Reddit forum r/dogecoin members do not believe it, the owner of the address is still a mystery.
For example, at the beginning of 2021, the DH5ya Dogecoin address was constantly discussed on the r/dogecoin forum. Three months ago, a Redditor named “u/andreifromaberta” released the news that the mystery of the DH5ya address is being “solved”.
The person who initiated the thread pointed out that he believes that the address belongs to Robinhood, a stock and cryptocurrency exchange platform. In essence, Redditor Andrei believes that everything started on June 26, 2018, and said: “Robinhood Crypto started preparations for the launch of Dogecoin transactions by creating the DQA5 address.” Andrei believes that the DQA5 address is Robinhood’s hot wallet, and the DH5ya address It is a cold storage. With more than 4,100 votes on Reddit, the theme of “Mystery Unraveling” is very popular, Generally accepted theory.
The Dogecoin whale address is still making headlines, the address spent 100 billion DOGE in 21 transactions, worth more than 40 million USD
Although many people believe this theory, no one is really sure that the DH5ya DOGE address is Robinhood’s wallet. To this day, the DH5ya address is still making headlines in cryptocurrency publications, and people are still speculating about its development trend.
As of press time, the DH5ya address is still the richest Dogecoin address because it currently holds 36.7 billion Dogecoin (DOGE). The address owner has obtained 797 DOGE in the past seven days and also collected 3,755 coins in 30 days. Since the address was created, it has only sent 21 individual transactions from the wallet, but received a total of 1,123 incoming transactions.
Using today’s Dogecoin exchange rate, the DH5ya DOGE address has sent a total of 100,434,958 DOGEs worth more than 40 million US dollars.Tesla CEO Elon Musk has always been an ardent supporter of Dogecoin. As early as mid-February, he tweeted that he “will actually pay literally [dollars] If they just invalidate their account. The CEO of Tesla also added that the DOGE ecosystem is “overly centralized is the only real problem.”
Robin Hood CEO Vlad Tenev discusses the company’s cryptocurrency position
In May of this year, it was revealed to the public that the assumption about the address of the DH5ya whale belonging to Robinhood may be wrong, and it is only speculation.
Although all armchair detectives pointed out that the DH5ya address was incidental evidence of Robinhood, Robinhood Markets CEO Vlad Tenev put an end to this speculation in a “fireside chat” on May 6. Tenev said that the company only provides customers with access to its specific assets, and further noted:
We have no significant positions in any of our proprietary-based tokens.
Since no one can officially confirm that the DH5ya address is Robinhood’s DOGE cold storage wallet, the owner of the address is still a mystery. Some people will continue to believe that the address belongs to Musk, while others will still wholeheartedly believe that the address belongs to Robinhood.
A famous quote published by Tom Robinson, the co-founder of the blockchain monitoring company Elliptic, on Bloomberg in February pointed out that the DH5ya Dogecoin address was created in June 2018, and Robin Hood actually did it next month. The DOGE transaction.
What do you think of the mysterious Dogecoin address DH5y? Let us know your thoughts on this topic in the comments section below.
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