$261.9 Million USDC Transfer to Coinbase Leads $515.2 Million in Whale Moves

A $261.9 million USD Coin (USDC) transfer to Coinbase led five crypto moves totaling $515.2 million in a three-hour period ending at 8 p.m. ET Friday, Oct. 30, with more value moving into exchanges.

An unknown wallet sent 261,739,220 USDC to Coinbase at 6:12 p.m. ET. Bitcoin (BTC) accounted for the other four transfers.

At 5:25 p.m. ET, OKX sent 1,214 BTC worth $93.2 million to an unknown wallet, while Coinbase Institutional sent 667 BTC worth $51.2 million to an unknown wallet. One minute later, an unknown wallet sent 670 BTC worth $51.4 million to Coinbase Institutional. At 6:42 p.m. ET, an unknown wallet sent 750 BTC worth $57.5 million to Bitfinex.

Unknown wallets sent $370.8 million to exchanges, compared with $144.4 million sent from exchanges to unknown wallets. Transfers to exchanges are often watched as potential selling activity, while transfers away from exchanges are often watched as potential holding. The movements alone do not establish what the wallet owners intend to do.