Crypto:
30251
Bitcoin:
$66.215
% 1.33
BTC Dominance:
%54.5
% 0.21
Market Cap:
$2.38 T
% 1.77
Fear & Greed:
74 / 100
Bitcoin:
$ 66.215
BTC Dominance:
% 54.5
Market Cap:
$2.38 T

Whale Alert: Mystery Sender Moves $322 Million in Bitcoin to Coinbase Institutional

Bitcoin, Bitcoin Whale

According to data from Whale Alert, an unknown whale deposited 4,535 Bitcoin or $322.14 million, to Coinbase, the largest cryptocurrency exchange in the United States, today. What gives context to this transfer is that it was made through Coinbase Institutional. That is Coinbase’s business and financial institutions branch, which offers a full suite of services for storing, buying, and selling digital assets.

What do we know about the sender? The address “147t6” is relatively new to the crypto industry. The first transactions using this address occurred only two days ago, when they withdrew the first 843.53 BTC, equivalent to $60.45 million, from Coinbase Prime.

From then until now, they had only transferred Bitcoin from Coinbase, accumulating 4,535 BTC, which they deposited at Coinbase Institutional today. This address is currently empty.

At the time, the price of Bitcoin declined by 5.53%, from $71,758 to $67,518. However, over the previous 20 hours, the price of Bitcoin has begun to recover and is now quoted at $70,750.

Trying to draw conclusions, we can hypothesize that this is either an internal operation of the exchange itself to move Bitcoin between its own structures or a minor transaction from a significant investor who decided to grab a fast gain on the collapse and recovery of the price of the main cryptocurrency.

However, it will be exciting to watch what this Bitcoin whale does next.

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