Exchange Inflows Exceed Outflows in $1.01 Billion Crypto Transfer Window

Nine cryptocurrency transfers totaling $1.01 billion took place during a three-hour window Thursday, with exchange inflows exceeding outflows by $244.5 million as Bitcoin, Ether and USDC moved through Coinbase and Kraken.

The window ran from 11:05 a.m. to 2:05 p.m. ET Oct. 22. Transfers from unknown wallets to exchanges amounted to $629.3 million, compared with $384.8 million moving from exchanges to unknown wallets.

The largest transaction sent 2,463 Bitcoin (BTC), valued at $200.8 million, from Coinbase to an unknown wallet at 12:43 p.m. ET. Exchange-bound transfers also included 2,049 BTC worth $167.4 million sent to Coinbase Institutional at 12:13 p.m. ET and 780 BTC worth $63.9 million sent to Coinbase at 11:10 a.m. ET.

Two Ether (ETH) transfers from unknown wallets to Coinbase took place at 11:58 a.m. ET: 61,052 ETH worth $146.3 million and 52,024 ETH worth $124.4 million. At 12:44 p.m. ET, 873 BTC worth $71.2 million and 688 BTC worth $56.2 million moved from unknown wallets to Coinbase.

Outbound transfers included 132,895,128 USDC worth $132.9 million sent from Kraken to an unknown wallet at 12:44 p.m. ET and 628 BTC worth $51 million sent from Coinbase Institutional to an unknown wallet at 1:13 p.m. ET. Transfers to exchanges are sometimes watched as potential selling, while moves away from exchanges are often watched as potential holding; the recorded directions show where the assets moved, not whether they were sold.

A separate Oct. 8 Bitcoin transfer tally counted eight transfers totaling $2.52 billion over a three-hour window.