Coinbase recently witnessed a significant influx of Ethereum (ETH), totaling nearly 300,000 ETH or approximately $486 million USD. Whale Alert, a blockchain monitoring service, reported these substantial transactions.
Coinbase received two separate transfers, each involving 149,999 ETH, making it a combined total of 299,998 ETH. The source of these substantial transfers remains undisclosed, adding an element of intrigue to the situation.
Interestingly, both of these large transactions occurred within the same minute, hinting at a coordinated effort to deposit a substantial amount of Ethereum into the exchange. Such sizable inflows to crypto exchanges can potentially exert downward pressure on the asset's price.
In a separate development, another crypto exchange, Gate.io, received 15,000 ETH, equivalent to approximately $24.6 million USD.
Meanwhile, Ethereum co-founder Vitalik Buterin has been actively managing his crypto holdings. He recently conducted a transaction involving 500 Maker (MKR) tokens, receiving 350 ETH in return, which is valued at around $581,000. This marks his first MKR sale in two years, with the received ETH being transferred to an address starting with 0x3f6.
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