Two Large Ethereum Transfers Received by Coinbase
Coinbase, one of the leading cryptocurrency exchanges, recently received two significant transfers of Ethereum (ETH) totaling 299,998 ETH, equivalent to approximately $486,482,166 USD. These transactions were reported by Whale Alert, a blockchain monitoring service.
The transfers were made in two separate transactions, with each consisting of 149,999 ETH. The combined value of these transfers is estimated to be around $486.5 million USD. However, the origin of these high-value transfers remains unknown.
Interestingly, both transfers to Coinbase occurred within the same minute, suggesting a coordinated effort to move a substantial amount of Ethereum into the exchange. Such large transfers to a crypto exchange often indicate increased selling pressure, which could potentially have a bearish impact on the asset’s price.
Ethereum Co-founder Vitalik Buterin’s Recent Asset Movements
In a separate transaction, Gate.io, another crypto exchange, received 15,000 ETH, amounting to $24,579,443 USD.
It is worth noting that Ethereum co-founder, Vitalik Buterin, has been actively moving and selling assets, including Ethereum and Maker, in recent weeks. He has transferred 999 ETH to a different address and deposited ETH into Bitstamp. Additionally, he recently sold 500 Maker (MKR) tokens for 350 ETH, valued at around $581,000, through the decentralized exchange CoWSwap. This sale marks his first MKR sale in two years, and the received ETH was transferred to an address with the prefix 0x3f6.
Hot Take
These large transfers to Coinbase and Gate.io, along with Vitalik Buterin’s asset movements, indicate significant activity in the Ethereum market. It will be interesting to see how these transactions and sales impact the price and overall market sentiment of Ethereum in the coming days.
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