8,129 Bitcoin Transfer to Coinbase Leads $957.6 Million in Whale Moves

An unknown wallet sent 8,129 Bitcoin (BTC) worth $663.7 million to Coinbase Institutional on Oct. 20, driving $836.8 million in exchange-bound transfers among five large moves.

The five transfers totaled $957.6 million and involved BTC, Ether (ETH) and USDT. Unknown wallets sent $836.8 million into exchanges, while exchanges sent $120.8 million to unknown wallets.

The largest transfer reached Coinbase Institutional at 8:38 a.m. ET (12:38 UTC). At the same time, an unknown wallet sent 100,980,000 USDT worth $100.9 million to Bitfinex. Another unknown wallet sent 29,458 ETH valued at $72.1 million to Coinbase Institutional at 10:20 a.m. ET (14:20 UTC).

Both transfers out of exchanges originated at Coinbase Institutional. At 8:53 a.m. ET (12:53 UTC), 633 BTC worth $51.7 million moved from Coinbase Institutional to an unknown wallet. At 10:19 a.m. ET (14:19 UTC), 28,242 ETH worth $69.1 million moved from the platform to an unknown new wallet.

Four of the five transfers involved Coinbase Institutional; the fifth went to Bitfinex. The wallet movements show where the assets went, but do not establish whether any were subsequently sold.