Whale Alert has reported that around $100 million worth of Bitcoins have recently been moved. According to the resource:
“2001 BTC in the amount of $97.29 was withdrawn from Coinbase to an unknown wallet.”
An analyst from Blockstream claims a large crypto investor paid 0.000102 BTC or $5.21 as a commission.
According to BitInfoCharts, the recipient wallet is owned by crypto exchange OKEx. The BTC were then sent to a cold wallet.
According to experts from analytical company Glassnode, now huge volumes of Bitcoins are transferred to organizations that send cryptocurrencies for long-term storage.
Of course, the current transfer did not contribute to this conclusion, as Coinbase is most commonly used by institutional investors, and the amount of BTC does not indicate a retail investor in any way.
Is is worth mentioning that the Bitcoin supply is shifting from liquid to illiquid at a rate of 100,000 BTC ($5.01 billion) per month.