- Whales moved over $1.5 billion in BTC, ETH, and USDC to Coinbase (NASDAQ:COIN) platforms.
- The transactions come amid BTC reclaiming $70k within the last 24 hours.
- The movement to exchanges has sparked concerns about potential market dumps.
The crypto community has witnessed a startling movement of crypto funds by prominent entities to liquid centralized trading platforms within the last 24 hours. Influential investor tracker Whale Alert has documented these movements in numerous posts on X.
According to the report, Coinbase has been the leading beneficiary of the funds moving from “unknown wallets” to exchanges. Coinbase’s platform dedicated to institutional investors took a store of 22,731 Ethereum tokens worth $78,444,544 on Monday morning. The last time a similar transaction occurred was two days ago.
22,731 #ETH (78,444,544 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/14blRLNGFm— Whale Alert (@whale_alert) March 25, 2024
Meanwhile, within the same hour, Coinbase Institutional received $75,887,800 in USDC stablecoin from an unknown wallet. A few hours later, the Coinbase exchange received $72,735,609 in Bitcoin from anoth…
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