Breaking News
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% Upgrade now

This Wallet Just Transferred $43M Worth Of BTC Onto Coinbase

Stock Markets Aug 08, 2022 18:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. This Wallet Just Transferred $43M Worth Of BTC Onto Coinbase
 
BTC/EUR
+1.54%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/USD
+0.54%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/EUR
+1.02%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/JPY
+0.33%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/USD
-0.03%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/JPY
+0.35%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

What happened: An anonymous cryptocurrency wallet holding $43,068,296 of Bitcoin (CRYPTO: BTC) just transferred their funds onto Coinbase (NASDAQ:COIN). The bitcoin wallet address tied to this transfer has been identified as:

18hHCZ7dbWiWrbEFrUMcuk498jXLrcjcyU

You can view more details about the transaction here.

Why it matters: Cryptocurrency transfers from wallets to exchanges is typically a bearish signal. Most high networth cryptocurrency traders hold their funds on a hardware wallet, as these devices offer better security than cryptocurrency exchanges. Hardware wallets store investors' private keys offline, securing their digital assets from online hacks.

When whales transfer bitcoin onto an exchange, this typically means they are looking for liquidity. It's unlikely that the investor plans to hold their crypto on Coinbase, as the security risks of holding large amounts of cryptocurrency on an exchange are higher than holding these assets in a hardware wallet. It's likely that this Bitcoin whale is planning either on selling Bitcoin or trading it for other altcoins.

Price Action: Bitcoin is up 3% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter (NYSE:TWTR).

This article was generated by Benzinga's automated content engine and reviewed by an editor.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

This Wallet Just Transferred $43M Worth Of BTC Onto Coinbase
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email