Analysis: Coinbase sets record for third-largest BTC outflow of the year, worth nearly $1 billion
2024-05-15 08:52:45
On May 15th, Arkham Intelligence data shows that at around 11:00 Beijing time today, Coinbase cold storage addresses transferred about 16,000 BTC worth nearly 1 billion dollars (about 988 million dollars) through two transactions. These transaction verification information is provided by Glassnode and CryptoQuant. Analysis of Glassnode data shows that this event marks the third largest outflow from Coinbase in 2024. Coinbase exchange balances have been steadily declining in 2024. According to CryptoQuant, the balance at the beginning of this year was about 418,000 BTC, and currently it is about 267,000 BTC.
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