Coin Edition -
- Transfer of $112 million worth of Ethereum to Coinbase (NASDAQ:COIN) and Kraken raises concerns about potential selling pressure.
- Anonymous wallet moved 22,157 ETH worth $34.5 million to Coinbase, followed by 50,000 ETH valued at $78.3 million deposited in Kraken.
- Massive ETH flows to liquid exchanges have alarmed analysts as they often precede major liquidations.
The transfer of over $112 million worth of Ethereum to major exchanges Coinbase and Kraken recently has raised concerns about potential selling pressure.
According to Whale Alert, one anonymous wallet moved 22,157 ETH worth $34.5 million to Coinbase. Soon after, 50,000 ETH valued at $78.3 million was deposited to Kraken from a separate wallet.