Summary
- Whale Alert reported that 2275 Bitcoins were deposited to Coinbase.
- It was stated that this amounts to approximately 237.02 million USD (about 340.7 billion KRW).
- Large-scale deposits to exchanges are generally explained as potentially increasing market selling pressure.
2275 Bitcoins (BTC) have been deposited to Coinbase.
According to the cryptocurrency transaction tracking site Whale Alert, at around 23:23 on the 16th, 2275 BTC were deposited to Coinbase Institutional. This amounts to approximately 237.02 million USD (about 340.7 billion KRW).
Typically, large-scale coin deposits to exchanges can lead to an increase in selling pressure, which may cause short-term volatility.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
