Long Dormant Whale Sends $61M BTC to Coinbase, OnChain Data Shows [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Volatility may rise later Friday following the release of the Fed's preferred inflation gauge. Out of the blue, a whale wallet that had been inactive for six years sprung to life early Friday, moving bitcoin {[BTC}} to Coinbase as the leading cryptocurrency faded the spike above $62,000. The crypto wallet identified as 12EMDoUhaNCuWZeeT6ey61AkjKyzmjV2m3 deposited a substantial 1,000 BTC, valued at over $61 million, to Coinbase Pro, according to data tracked by Lookonchain and Arkham Intelligence . Notably, these coins were acquired six years ago for a mere $6.68 million. A whale is wallet that holds 1000 BTC or more. This quarter, there has been a noticeable increase in the so-called dormant bitcoin wallets stirring into action by moving coins to exchanges. On Thursday, a wallet tied to a bitcoin miner woke up for the first time in 14 years and sent 50 BTC to Binance. Analysts speculate that these dormant holders might be looking to cash out while prices hover near record hig
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COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 6/27/24 - Form 4
- 6/20/24 - Form 4
- 6/20/24 - Form 8-K
- COIN's page on the SEC website