Dormant US Government-Linked Address Deposits 140 Bitcoin Into Coinbase Prime After Four Years
Summary
- A US government-linked address that had been dormant for four years transferred Bitcoin (BTC) to Coinbase Prime.
- The address deposited 140.214 BTC (about $8.79 million) into Coinbase Prime.
- While exchange deposits generally suggest the possibility of a sale, Coinbase Prime's institutional focus means the transfer may have been made for purposes other than a straightforward sale.
Forecast Trend Report by Period
A US government-linked address that had been dormant for four years transferred Bitcoin to Coinbase Prime.
Lookonchain said on July 13 that a US government-linked address beginning with "bc1qhr" deposited 140.214 BTC, worth about $8.79 million, into Coinbase Prime.
Deposits to exchanges are generally viewed as a possible sign of selling. But because Coinbase Prime offers trading, custody and financing services for institutional investors, the transfer may have been made for reasons other than a straightforward sale.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit