A Whale Moves 2001 BTC From Coinbase to Unknown Wallet

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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“2001 BTC in the amount of $97.29 was withdrawn from Coinbase to an unknown wallet.”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.

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