Summary
- It was reported that 3289 Bitcoins (BTC) were deposited to Coinbase, amounting to approximately 445.6 billion KRW.
- Large-scale coin deposits may lead to an increase in selling pressure, warranting caution.
- This could be a factor that increases the market's short-term volatility.
3289 Bitcoins (BTC) have been deposited to Coinbase.
According to Whale Alert, a cryptocurrency transaction tracking site, 3289 BTC were deposited to Coinbase Institutional at around 22:13 on the 16th. This amounts to approximately 318.88 million USD (about 445.6 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.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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