2,878 Bitcoin Transfer Leads $446.5 Million in Crypto Moves

Four large transfers of Bitcoin (BTC) and Ether (ETH) totaled $446.5 million during a three-hour window Wednesday, with more value moving to exchanges than leaving them.

The largest transaction sent 2,878 BTC worth $239.9 million between two unidentified wallets at 6:23 a.m. ET (10:23 UTC) Oct. 21. It did not involve an exchange.

Two other transfers sent a combined $156.3 million to exchanges. An unidentified wallet sent 1,178 BTC worth $98.3 million to OKEX at 7:25 a.m. ET (11:25 UTC). Another sent 23,639 ETH worth $58.0 million to Coinbase at 6:54 a.m. ET (10:54 UTC).

The sole exchange outflow sent 20,488 ETH valued at $50.3 million from Coinbase to an unidentified new wallet at 7:09 a.m. ET (11:09 UTC). The four transactions fell within a window ending at 8:05 a.m. ET (12:05 UTC).

On Oct. 20, five large transfers totaled $957.6 million, including $836.8 million sent to exchanges. The Oct. 21 wallet movements do not establish whether the assets sent to exchanges were sold or how long the withdrawn ETH will be held.