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A crypto venture has grabbed billions of Shiba Inu (SHIB) tokens in the midst of a massive multi-million dollar accumulation.
New data from blockchain search engine Etherscan make clear Chicago-based trading firm Jump Trading has seen SHIB’s assets rise exponentially from 250,000 on February 4 to just over 130.7 billion at the time of writing.
The acquisition of the dog-themed meme token means Jump Trading, known as one of the smallest hedge funds, currently holds around $1.7 million worth of SHIB. Overall, the platform has approximately $150 million in assets under management, according to the latest earnings. report.
However, the report also said Jump Trading may have an even larger portfolio than disclosed, as it may hold undisclosed assets such as cash and real estate. I’m here.
A hedge fund buildup happens when a Shiba Inu sees a drop in prices. Dogecoin (DOGE) competitors are down about 4% over the past 24 hours as they continue to drop from their seven-day high of $0.000015 to their current price of $0.000013.
Recently, cryptocurrency analytics platform Santiment reported that whale activity, led by Shiba Inu, will spike in 2023. This is because he has become the second largest altcoin holding among Ethereum (ETH) whales.
According to Santiment, the world’s largest 5,000 ETH whales currently hold a massive SHIB totaling 50,905,707,716,073 worth just over $735 million.
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Featured Image: Shutterstock/Ralf Juergen Kraft/WindAwake
