Arkham Intelligence has released a list of the top 10 buyers of SHIB tokens, showing which company is at the top of the list. It is the burn SHIB address that has the most Tokens, with a remarkable 410,418,816,901,215.06 tokens worth over $10 billion. This is a huge 41% share of the entire token supply.
The second place goes to Crypto.com, which has 37,570,344,005,265.1 tokens, which is worth $968,560,000 million in physical funds. It is significant to note that this is one of the platform’s weak hot wallets that could be hacked.
The third spot goes to a Binance cold wallet that holds 35,000,000,000,000 Shiba Inu Tokens, which is 3.5% of the total supply and is worth $902,300,000. A cold wallet linked to the Robinhood trade app, holding 31,753,251,930,362.97 tokens and worth $818,600,000,000, is in fourth place.
It’s further down the list that the team’s wallet comes in at number ten, with a value of $164,920,000 worth of tokens stored in it.
SHIB Whales Move 17B Tokens
The cryptocurrency market has changed a lot in the last few hours as crypto whales moved almost 17 billion tokens. It is worth noting that most of these trades involved taking SHIB out of Kraken and then putting it into OKX.
To make things even more interesting, the official Shiba Inu X account hinted earlier today at a “hard fork” that will happen on May 2. But after some clarification, it became clear that this event is not a traditional hard fork, which usually means the start of a new blockchain with a new coin, but rather a significant upgrade.
The tweet gives hints that the upcoming update will speed up the production of blocks on the Shibarium layer-2 blockchain. This will make transaction fees more reliable after the update is integrated.
Even so, there are still some questions about the automated burn process, which has been tested on the testnet Puppynet since January. For now, Token burns are still done by hand, mostly by the SHIB army, with sometimes-involved tech team members, depending on how much BONE they can get from Shibarium transaction fees.
Within the last 24 hours, the burn rate has been going down, dropping by 88.96%, which has only removed 4,422,643 tokens from circulation.
