Bitcoin Whales Move Hundreds of Millions to Coinbase Institutional
Whale Alert, a leading cryptocurrency tracker, has highlighted four significant Bitcoin transfers to Coinbase Institutional from undisclosed wallets.
Simultaneously, 13 smaller BTC transactions have withdrawn 19,161 Bitcoin to various new addresses.
Whale Alert’s investigation identified four notable transfers, totaling 9,783, 1,100, 3,000, and 7,798 Bitcoin, heading to Coinbase Institutional from unknown sources, with a combined fiat value exceeding $909 million.
Coinbase Institutional, part of the Coinbase exchange, seamlessly integrates advanced custody and trading services. Additionally, 13 transactions moved 19,161 Bitcoin from the platform to undisclosed wallets, ranging from 1,200 to 1,479 BTC, some identified as new.
READ MORE: Australian Regulators Investigate Bankrupt Crypto Company That Owes Almost $60M
Amid Bitcoin’s attempt to stay above $41,000, crypto whales leverage market volatility. Grayscale continues selling Bitcoin, resulting in a $671 million outflow in a day, contributing to a total outflow surpassing $5.46 billion. The fund retains a $20 billion Bitcoin portfolio.
On Friday, Bitcoin surged above $42,000 with a 5.67% rise but experienced a 1.56% decline. Despite this, it holds strong above, currently trading at $41,544.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
