Coinbase sees major Bitcoin withdrawal, holds lowest confirmed supply since 2015

2024-2-19 13:20

Quick Take

Data unveiled during Asia hours from Coinbase revealed a sizable withdrawal of over 18,000 Bitcoin, as confirmed by Arkham Intelligence, Glassnode, and Coinglass. 

This substantial outflow of nearly $1 billion has significantly influenced Coinbase’s exchange balance. The funds have been sent to several different addresses with the Bitcoin split across new wallets. Balances in the new wallets range from $45 million to $171 million, with all UTXOs from the original transaction having been spent. 

Exchange Netflow: (Source: Glassnode)

Precisely, the exchange now houses approximately 390,000 Bitcoin, valued at around $20.5 billion. This balance represents less than 2% of the total Bitcoin supply on exchanges. Interestingly, this is the lowest proportion Coinbase has held since 2015, marking a shift in the exchange’s holding patterns, according to Glassnode.

However, it is important to clarify that the motivation for the transfer is as yet unconfirmed, and the Bitcoin has been transferred to wallets that data providers do not tag. UTXO management seems a likely option; however, it is also possible that the funds will provide new liquidity for OTC desks or that the funds have been purchased and transferred into self-custody.

Exchange Balance: (Source: Glassnode)

Coinbase’s financial performance also seems to display a bullish narrative. The exchange reported Q4 2023 earnings, declaring a total revenue of $3.1 billion for 2023, with Q4 contributing to one-third of that total. 

As a result, Coinbase has experienced a 15% increase in its share price since the start of the year.

Coinbase Returns: (Source: Trading View)

The post Coinbase sees major Bitcoin withdrawal, holds lowest confirmed supply since 2015 appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61587.71 (-0.12%)
Объем 24H $26.444b
Изменеия 24h: -2.25 %, 7d: 6.70 %
Cегодня L: $61481.72 - H: $61650.41
Капитализация $1213.008b Rank 1
Цена в час новости $ 52373.19 (17.59%)

coinbase confirmed withdrawal bitcoin coinglass glassnode arkham

Источник: cryptoslate.com

coinbase confirmed → Результатов: 80


Coinbase Exchange to Select Nasdaq Over NYSE For Direct Listing

Popular cryptocurrency exchange Coinbase has reportedly chosen to stage its highly anticipated direct placement on Nasdaq instead of the New York Stock Exchange. Nasdaq not the NYSE According to a recent publication by an online crypto news platform, TheBlock, sources familiar with the situation confirmed that the crypto exchange prefers to work with Nasdaq for […] The post Coinbase Exchange to Select Nasdaq Over NYSE For Direct Listing first appeared on BitcoinExchangeGuide.

2021-2-2 17:41


Фото:

Coinbase Pro Launches Android Mobile App

U. S. -based cryptocurrency exchange Coinbase has officially launched its Coinbase Pro mobile app for the Android platform. The exchange confirmed in a Medium post published on January 7, 2020. Coinbase Pro App Now Available for Android Just a few months after the launch of the Coinbase Pro mobile app for iOS users, the San Francisco-based cryptocurrencyRead MoreRead More.

2020-1-8 20:00


Coinbase Custody Rolls Out Service For Three Assets; Including Telegram’s (GRM) Tokens

Coinbase Custody announces support of three new tokens on launch including Telegram Open Network’s GRAM tokens. GRAM, SOL and OXT added on Coinbase Custody In an official announcement on Medium, Coinbase Custody confirmed they will add support for three new tokens once they launch –Telegram (GRM), Solana (SOL) & Orchid (OXT). The custodian is a […]

2019-10-10 16:26


Offchain Labs launches Alpha of scaling solution; Coinbase invests

Offchain Labs launches Alpha of scaling solution; Coinbase invests - CryptoNinjas Offchain Labs, led by a former White House Deputy Chief of Technology and a team of U. S. -based academics, has announced the successful release of the Alpha version of its open-source Arbitrum code capable of supporting thousands of simultaneous Ethereum contracts each of which can process over 500 transactions per second.

2019-9-6 21:33


Новости криптовалют сегодня, 14 августа 2019

Тут новости криптовалют сегодня от авторов блога «Новости криптовалют». Статья обновляется в течение дня. CoinDesk Официально закончились одни из самых престижных банковских отношений в криптографии, поскольку источники подтвердили, что Barclays больше не обслуживает Coinbase BREAKING – One of the most prestigious banking relationships in crypto has officially ended, as sources have confirmed @Barclays is no […]

2019-8-14 09:03


Фото:

Prominent Analyst: Bitcoin (BTC) Bull Season 99% On, Yet Price Could Stumble In The Short-Term

Bitcoin Is (Almost) Confirmed To Be In A Bull Run Bitcoin is back. While BTC has slowed over the past 12 hours, falling to $7,700 after a rally to $8,350 on Coinbase, the market still... The post Prominent Analyst: Bitcoin (BTC) Bull Season 99% On, Yet Price Could Stumble In The Short-Term appeared first on Ethereum World News.

2019-5-15 03:40


Breaking: Ripple’s XRP Launches On Coinbase Pro

This might be one of the biggest news of the week, after so many comments and questions on when the leading crypto exchange is going to be adding XRP, It now seems the time has come, Announcing on Twitter and on its official blog, Coinbase has confirmed that it is indeed adding XRP as well […] The post Breaking: Ripple’s XRP Launches On Coinbase Pro appeared first on ZyCrypto.

2019-2-26 21:45


дальше еще 31 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru