Crypto News – During the past day, the cryptocurrency world has seen a shocking transfer of cryptocurrency funds by well-known institutions to liquid centralized trading platforms.
Big Move of the Whales: $1.555.911.187 Moved to Coinbase, Dump Anticipation Rises
These moves have been extensively reported on X by prominent investor tracker Whale Alert in multiple posts.
When funds moved from “unknown wallets” to exchanges, Coinbase reportedly benefited the most, according to the report. 22,731 Ethereum coins worth $78,444,544 were taken on Monday morning by Coinbase, an institutional investor-focused platform. It was two days earlier when a similar transaction took place.
Unidentified Wallets Flock to Coinbase
Coinbase Institutional got $75,887,800 in USDC stablecoin from an unidentified wallet in the same hour. A few hours later, another unidentified wallet sent $72,735,609 worth of Bitcoin to the Coinbase exchange.
As of the time of publication, Whale Alert has recorded 17 multimillion-dollar Coinbase transactions, most of which involved the stablecoins USDC, Bitcoin, and Ethereum. It involved the transfer of 150,000 ETH tokens, valued at an incredible $541,723,713, from an unidentified wallet to Coinbase. Over the past 24 hours, Coinbase platforms have collectively collected a minimum of $1,555,911,187. In the meantime, less than $400 million was reported as being removed from Coinbase platforms by cryptocurrency whales.
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