BlackRock, Fidelity Move $80.8 Million of Ether to Coinbase Prime in Potential Sell Signal
JOON HYOUNG LEE
Summary
- BlackRock deposited 11,475 Ether (ETH), worth about $26.3 million, into Coinbase Prime.
- Fidelity deposited 23,919 Ether, worth about $54.5 million, into Coinbase Prime on the same day.
- Deposits to exchanges are typically seen as a sell signal, though actual sales have not been confirmed.
Forecast Trend Report by Period
BlackRock and Fidelity have moved large amounts of Ether to Coinbase Prime, on-chain tracker Lookonchain said on May 8.
BlackRock deposited 11,475 ETH, worth about $26.3 million at current prices, into Coinbase Prime, according to Lookonchain.
Fidelity also deposited 23,919 ETH into Coinbase Prime the same day. The holdings were worth about $54.5 million at current prices.
Transfers to exchanges are typically interpreted as a sell signal, though it has not been confirmed whether either firm actually sold the tokens.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
