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Several hours ago, Coinbase transferred 150,000 ETH from its cold wallet to its hot wallet

Several hours ago, Coinbase transferred 150,000 ETH from its cold wallet to its hot wallet

Bitget2024/06/11 05:35
ETH-1.28%

According to on-chain analyst @tocuee, a few hours ago, there was a massive cold-to-hot transfer from a Coinbase address. 150,000 ETH worth nearly $550 million were transferred from the cold wallet to the hot wallet. This huge amount of ETH was deposited six years ago and if calculated at the price at that time, it has made a profit of $533 million. On-chain analyst @ai_9684xtpa commented on this, stating that he believes funds are usually transferred out of cold wallets in order to handle large withdrawals.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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