Crypto Transfers Total $564 Million as $109.2 Million Enters Coinbase

Three large crypto transfers totaling $564 million were recorded over the three hours ending at 5:04 p.m. ET (21:04 UTC) on Oct. 13, including $109.2 million in USD Coin (USDC) moved into Coinbase.

The largest transfer involved 247,998,274 USDC, valued at $247.9 million, moving from Coinbase Institutional to Coinbase at 4:12 p.m. ET (20:12 UTC).

A separate transfer at the same time moved 109,267,471 USDC worth $109.2 million from an unknown wallet to Coinbase.

The remaining transaction involved 2,486 Bitcoin (BTC), valued at $206.8 million, moving between two unknown wallets at 3:39 p.m. ET (19:39 UTC).

During the period, $109.2 million moved into exchanges from unknown wallets. No funds were recorded moving from exchanges to unknown wallets.

Exchange deposits are commonly monitored for potential selling activity, while withdrawals may indicate that assets are being held elsewhere. The transfers alone do not establish what holders intended to do with the assets.