PiCK
BlackRock transfers about 1,100 bitcoins to Coinbase… "Possible additional deposits"
JOON HYOUNG LEE
Summary
- BlackRock reportedly deposited 1,134 bitcoins (about $74.18 million) into Coinbase.
- Onchain Lens said that, given the nature of deposits to exchanges, there is a possibility of selling and additional deposits.
- Bitcoin was trading at $65,859.08 on CoinMarketCap, up 4.03% from the previous day and down 2.28% from a week earlier.
BlackRock, the world’s largest asset manager, has made a large bitcoin transfer to Coinbase.
According to Onchain Lens on the 25th (local time), BlackRock deposited 1,134 bitcoins into Coinbase that day. At current prices, that amounts to $74.18 million.
Typically, depositing tokens to an exchange is seen as a potential sign of selling. Onchain Lens said, "(BlackRock) is also believed to be able to make additional deposits."
Meanwhile, bitcoin was trading at $65,859.08 on CoinMarketCap as of 9:33 p.m. that day, up 4.03% from the previous day. That marks a 2.28% decline compared with a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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