Digital Coin News

‘Giant buy’ signal? Crypto whales transfer $1.3B to Coinbase

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Coin Coin Headlines News

Several huge USDC transfers totaling $1.3 billion could be a huge buying signal for Bitcoin and Ether, according to market observers.

) in transfers from apparent whale addresses to cryptocu Coinbase on Thursday could potentially be a “giant buy signal” for Bitcoin (

The five transfers totaling $1.3 billion — with the amounts ranging from $150 million to $350 million — were made to Coinbase on April 25 at 08:15 UTC, according to EtherscanTraders often view large stablecoin deposits on exchanges as a bullish sign, indicating possible large buy orders in the near future, while significant crypto deposits on exchanges can signal a potential sell-off, making traders wary of a downturn.

“A lot of attention gets paid to whale movements, but we never really know what they are doing,” Davis said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and EtherfiDogwifhat (WIF) perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »