134.7 Million USDC Transfer Leads $489.6 Million in Crypto Moves

Five large crypto transfers totaling $489.6 million were recorded over three hours on Oct. 13, with tracked exchange outflows exceeding inflows during the period.

The largest movement involved 134,607,973 USD Coin (USDC), valued at $134.7 million, transferred from USDC Treasury to an unknown wallet at 12:57 p.m. ET (16:57 UTC).

Across the five transactions, $210.3 million moved out of exchanges, while $169.3 million moved into exchanges from unknown wallets.

The other transfers included 113.2 million Tether (USDT) worth $113.2 million moving from an unknown wallet to Bitfinex at 12:26 p.m. ET (16:26 UTC), and 110 million USDT worth $110 million moving from Tether Treasury to Bitfinex at 11:05 a.m. ET (15:05 UTC).

Coinbase Institutional was involved in two Ether (ETH) transfers recorded at 12:39 p.m. ET (16:39 UTC). One involved 30,021 ETH worth $75.6 million moving to an unknown new wallet, while 22,277 ETH valued at $56.1 million moved from an unknown wallet to Coinbase Institutional.

Market watchers often monitor exchange deposits for possible selling, although the transfers do not establish intent. Withdrawals from exchanges may indicate assets are being held elsewhere, but wallet movements alone do not reveal the next action.

The five transfers were recorded during the three-hour window ending at 2:04 p.m. ET (18:04 UTC) on Oct. 13.