5 Crypto Whales Move $1.3 Billion To Coinbase, Could The Market Be On The Bullish Again?

Crypto News – An impressive $1.3 billion in USD Coin (USDC) was recently moved by cryptocurrency whales to Coinbase, a significant exchange. These transactions appear to be a possible massive purchase signal, according to market analysts.

5 Crypto Whales Move $1.3 Billion To Coinbase, Could The Market Be On The Bullish Again?

Five distinct addresses contributed to this enormous inflow of money in coordinated transactions. This has led to the conjecture that cryptocurrencies, especially Bitcoin and Ethereum, are about to enter a bull market.

The specifics of these transactions show that the cryptocurrency whales were working together. The transfers happened almost simultaneously, indicating that the five addresses might be under the authority of one person. To Coinbase, address 0x45a sent 295.86 million USDC. A subsequent transfer of 350 million USDC was made to addresses 0x29d and 0x41d. Also, addresses 0xbdE and 0xeC9 each made 150 million USDC contributions, totaling around $1.3 billion.

5 Addresses Controlled by a Single Person?

These cryptocurrency wallet addresses appear to be in the control of one person, according to investigations into them. Also, there is a pattern that all five cryptocurrency wallets adhere to. For example, wallet 0xeC9 received funds from wallet 0x747 prior to transmitting 150 million USDC to Coinbase. It’s interesting to note that when the market peaked in the middle of March, 0x747 itself was restocked with USDC via Coinbase.

The likelihood that these cryptocurrency whales liquidated their holdings at the top of the market and switched to self-custodying their assets in USDC is increased by this cyclical transfer pattern. Their return to the cryptocurrency trading platform might be an indication that they think the market is ready for a fresh bull run, having reached a local bottom.