Three Bitcoin whales move 6,168 BTC to Coinbase Prime
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
Three whale wallets deposited 6,168 BTC worth roughly $498.5 million to Coinbase Prime on October 28, according to Lookonchain, amid ongoing market weakness.
Three distinct Bitcoin whale wallets transferred a combined 6,168 BTC to Coinbase Prime on October 28, crypto.news reported, citing findings from blockchain analytics firm Lookonchain. The assets were valued at approximately $498.5 million when flagged, with Bitcoin (BTC) changing hands near $80,800.
On-chain data showed the deposits arrived via separate wallets into addresses designated for Coinbase Prime, which provides custody and institutional trading services. Lookonchain stated that it is not known whether the holders deposited the funds to liquidate their positions or for institutional custody purposes.
The activity follows several other large institutional deposits earlier in the week. Lookonchain reported that two wallets deposited 2,571 BTC worth roughly $206.52 million to Coinbase Prime on October 27 after three years of inactivity, while Arkham Intelligence noted another wallet moved 438.37 BTC to the platform on October 28.
Key facts
- 6,168 BTC transferred
- $498.5 million value
- Sent to Coinbase Prime
- Reported by Lookonchain
Read the original at crypto.news