Despite the lack of action in the cryptocurrency market lately, there is still much going on behind the scenes of the price list, especially in the area on the chain.
Massive relocations are still taking place, whales are shuffling the crypto capital, and exchanges are managing hot wallets and sediments. A recent wave of one (shib) shift between these two options remained open to speculation.
However, just a week after getting 152 billion shib worth around $2.28 million in popular meme-like cryptocurrency, the wallet under “0x4C92” will be releasing all tokens in the main cryptocurrency exchange coin base It’s the fact that it was transferred to. .
What ID
What’s interesting is that the token was also withdrawn from Coinbase with two separate tranches. They returned to the exchange in one batch of Shiv sent directly to the exchange a week later.
What was this?
The general perception of crypto market participants is that such changes are viewed as intent to sell by large entities. The logic is that the whales choose the most liquid platform to unload their possessions. This ensures minimal slip and price impact.
If you try to look at it from a different angle, you can consider it an internal operation of Coinbase itself. However, this theory has some flaws, such as the fact that a small amount of ETH was purchased to facilitate the initial transaction, which means that the receiving address is actually decentralized and Coinbase It may indicate that it does not belong to. There are still some ETH left in my wallet.
As the cryptocurrency markets these days look like hot disruption, it’s not really a problem that has caused such a rapid shift in emotions. However, the lack of patience when dealing with billions of coins worth millions of dollars is still surprising.
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