An Arkham Intelligence report shows which entities are now on the top 10 list of SHIB holders, and who holder number one is.
Meanwhile, cryptocurrency whales have transferred billions of SHIB between exchanges.
Largest SHIB holder on market revealed
Arkham Intelligence has shared that in first place on its list of the top SHIB holders sits none other than the burn SHIB address. It holds 410,418,816,901,215.06 SHIB evaluated at more than $10 billion. That is 41% of the entire Shiba Inu supply.
Centralized crypto exchange Crypto.com sits in second place, holding 37,570,344,005,265.1 – 3.76%, worth $968,560,000 million in fiat. This is one of the platform’s hot wallets; these addresses are connected to the Internet and are vulnerable to security breaches.
A Binance cold wallet comes in third on this list, and it holds 3.5% of the circulating SHIB supply – 35,000,000,000,000 SHIB equal to $902,300,000. It is followed by a cold wallet of Robinhood trading app, which holds 31,753,251,930,362.97 Shiba Inu worth $818,600,000.
The Shib team’s wallet comes 10th on this list, and there are 6,397,162,264,908 SHIB meme coins worth $164,920,000 in it.
Whales transfer billions of SHIB
According to the above-mentioned source, over the past few hours, almost 17 billion Shiba Inu coins have been shifted by cryptocurrency whales.
The transactions were mainly conducted as billions of SHIB were withdrawn from Kraken and deposited to OKX.
Upcoming Shibarium hard fork announced
In a tweet published earlier today, the official Shiba Inu X/Twitter account teased the approaching “hard fork” scheduled on May 2. However, this seems to be merely a major upgrade since hard forks traditionally assume the emergence of a new blockchain with an entirely new coin.
The X/Twitter post revealed that the upgrade will allow faster block production on the Shibarium layer-2 blockchain, the transaction fees will become more predictable after the new update is integrated.
Still, nothing seems to have been said about the automated burn mechanism that has been tested on testnet Puppynet since January.
SHIB burns are still being conducted manually, mostly by the SHIB army, with the developer team sometimes joining in when it manages to collect enough BONE off Shibarium transaction fees.
Over the past 24 hours, the burn rate has been negative, going into the red 88.96% with merely 4,422,643 SHIB removed from the circulating supply.
