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As revealed using data from Whale alert, an unknown whale sent 4,535 BTC, the equivalent of $322.14 million, to the largest crypto exchange in the United States, Coinbase, today. What adds even more color to this transfer is that it was made on Coinbase Institutional. This is the businesses and financial institutions division of Coinbase, providing them with a full range of services for storing, buying and selling digital assets.
What do we know about the sender? The “147t6” address is a relatively new player on the crypto scene. The first transactions with this address were just two days earlier, when they withdrew the first 843.53 BTC, or the equivalent of $60.45 million, from Coinbase Prime.
Since then, they have only been transferring Bitcoin from Coinbase, accumulating 4,535 BTC, which was sent to Coinbase Institutional today. This address is now completely empty.
Bitcoin Price Eyes Recovery
At that time, the price of Bitcoin initially fell by 5.53%, from $71,758 to $67,518. However, over the past 20 hours, BTC price has started to show signs of recovery and is already trading at $70,750.
Trying to draw conclusions, we can speculate that this is either an internal operation of the exchange itself to move Bitcoin between its own structures, or a small transaction of a large investor who decided to make a quick profit from the fall and rise in price. of the main cryptocurrency.
Regardless, it will be interesting to follow this Bitcoin whale and see what it does next.