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Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
Click the registration link to join
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Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
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2993 Bitcoins transferred from Coinbase institutional department, whale wallet creates new address sparking speculation
【Crypto World】Major Action Alert! On-chain data shows that recently approximately 2993 Bitcoins were transferred out from Coinbase’s institutional department to a brand new, unfamiliar wallet. This transfer involves a fund size of $265.9 million, instantly attracting market attention.
Such large-scale Bitcoin outflows often indicate strategic adjustments by institutional investors. The creation of a new wallet with an unknown destination naturally leads to speculation: Is it preparing for a large transaction? Or is a certain institution quietly planning?
Whale-level BTC transfers always tend to move the market nerves. For traders, these on-chain anomalies are worth continuous monitoring—after all, the flow of large funds often precedes price movements by one step.