Which companies are now among the top 10 SHIB holders, as well as the top holder, are revealed in an Arkham Intelligence study.
Whales of the cryptocurrency world have been moving billions of SHIB across exchanges in the meantime.
Largest SHIB holder on market revealed
According to information released by Arkham Intelligence, the burn SHIB address is ranked #1 among the top SHIB holders. 410,418,816,901,215.06 SHIB valued at than $10 billion are stored there. That represents 41% of all Shiba Inus available.
Second position goes to the centralised cryptocurrency exchange Crypto.com, which has 37,570,344,005,265.1, or 3.76%, of its $968,560,000 million fiat value. This is one of the hot wallets on the platform; these addresses are susceptible to security lapses since they are connected to the Internet.
Third on this list is a Binance cold wallet, which contains 3.5% of the SHIB supply in circulation, or 35,000,000,000,000 SHIB, or $902,300,000. The Robinhood trading app’s cold wallet, which has 31,753,251,930,362.97 Shiba Inus valued at $818,600,000, comes next.
Tenth on this list is the wallet belonging to the Shib team, which has 6,397,162,264,908 SHIB meme coins valued at $164,920,000.
Whales transfer billions of SHIB
The aforementioned source claims that bitcoin whales have moved around 17 billion Shiba Inu coins in the last few hours.
The majority of the transactions included taking billions of SHIB out of Kraken and depositing it into OKX.
Upcoming Shibarium hard fork announced
The official Shiba Inu X/Twitter account hinted at the impending “hard fork” set for May 2 in a tweet earlier today. Hard forks, however, usually presume the creation of a new blockchain with a whole new coin, thus this appears to be just a significant improvement.
The update will enable speedier block creation on the Shibarium layer-2 blockchain, according to the X/Twitter article, and after the new version is incorporated, transaction costs will become more predictable.
However, regarding the automatic burn process that has been tested since January on the testnet Puppynet, nothing appears to have been mentioned.
The SHIB army still does the majority of the manual SHIB burning, with the developer team occasionally chipping in when it has enough BONE from Shibarium transaction fees.
The burn rate was negative over the last twenty-four hours, reaching a red 88.96% with just 4,422,643 SHIB taken out of circulation.
