Through data from Whale Alert, it emerged today that an unidentified entity transferred 4,535 BTC, valued at approximately $322.14 million, to the leading US crypto exchange, Coinbase. Notably, this transaction occurred via Coinbase Institutional – a division of Coinbase catering to businesses and financial institutions, offering comprehensive services for managing digital assets.
Two days ago, the crypto address “147t6” emerged on the scene, having made its first transactions. These transactions involved the withdrawal of 843.53 BTC, which is equivalent to approximately $60.45 million, from Coinbase Prime. Little information is available about the sender behind this address.
Starting from that point up until the present moment, they exclusively moved Bitcoin from Coinbase out of their account, amassing a total of 4,535 Bitcoins in the process. These Bitcoins were transferred to Coinbase Institutional more recently, leaving their Coinbase address completely empty now.
Bitcoin price eyes recovery
Currently, Bitcoin’s price initially declined by 5.53%, dropping from $71,758 to $67,518. Yet, within the past 20 hours, Bitcoin has demonstrated early signs of rebounding and is now listed at $70,750.
Based on the available information, it’s plausible to assume that this transaction represents either an internal transfer of Bitcoin within the exchange’s system or a small trade made by a large investor capitalizing on Bitcoin‘s price fluctuations.
Regardless, It will be interesting to follow this Bitcoin whale and see what it does next.
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2024-04-11 14:29