Six Large Crypto Transfers Total $595.9 Million in Three Hours

Six large crypto transfers totaling $595.9 million were recorded in the three hours through 11 a.m. ET (15:00 UTC) Oct. 15, with more value moving into exchanges than out in transfers involving unknown wallets.

The largest listed move sent 131.4 million Tether (USDT), valued at $131.3 million, from an unknown wallet to Bitfinex at 8:12 a.m. ET (12:12 UTC). Across transfers involving unknown wallets, $304.1 million moved into exchanges, while $189.9 million moved from exchanges to unknown wallets.

At 10:18 a.m. ET (14:18 UTC), Binance sent 102,048,246 USDT worth $101.9 million to Ceffu. Coinbase Institutional received 1,239 Bitcoin (BTC) worth $99.9 million from an unknown wallet. At the same time, it sent 1,215 BTC worth $98.7 million and 38,912 Ether (ETH) worth $91.2 million to unknown new wallets. At 10:19 a.m. ET (14:19 UTC), an unknown wallet sent 31,124 ETH worth $72.8 million to Coinbase Institutional.

Transfers to exchanges are often watched as potential selling activity, while moves away from exchanges are watched as potential holding. These transfer directions do not confirm that an asset was sold or that its recipient planned to hold it.