Coinbase Sends 1,190 Bitcoin as Three Transfers Reach $208.4 Million

Three large Bitcoin (BTC) transfers totaling $208.4 million took place in the three hours through 10:01 p.m. ET Nov. 2, with more value moving from exchanges to unknown wallets than into exchanges.

At 8:56 p.m. ET, an unknown wallet sent 830 BTC worth $64.1 million to Coinbase. At 9:14 p.m. ET, Coinbase sent 1,190 BTC valued at $91.9 million to an unknown wallet. Coinbase Institutional sent another 681 BTC worth $52.5 million to an unknown wallet at 9:44 p.m. ET.

The two transfers from Coinbase entities to unknown wallets totaled $144.3 million, compared with $64.1 million moving into Coinbase. The transfers show where the BTC moved, but do not establish what the wallet owners intended to do.