On-chain data records Grayscale transferring over 314 BTC to Coinbase Prime in a single transaction.
Specifically, at 21:18 Beijing time, two Bitcoin Trust addresses of Grayscale transferred a total of 314.65 BTC, equivalent to approximately 37.57 million USD at the current price, to the Coinbase Prime platform.
- Grayscale has executed a transaction transferring over 314 BTC to Coinbase Prime.
- The transfer value is equivalent to nearly 37.57 million USD at the current market price.
When did Grayscale's BTC transfer transaction occur?
The transaction was recorded at 21:18 Beijing time, marking one of Grayscale's large BTC transfers on-chain. According to analysis from reliable on-chain data, this transfer time indicates professional and transparent asset management.
What is the total amount of BTC transferred and its corresponding value?
Two Bitcoin Trust addresses of Grayscale transferred 235.99 BTC and 78.66 BTC respectively, totaling 314.65 BTC. The value at the time of the transaction reached approximately 37.57 million USD, based on the Bitcoin price on July 22.
Transferring a large amount of Bitcoin to the wallet on Coinbase Prime shows that Grayscale is optimizing asset management and meeting customers' safe custody requirements.
Jeffrey Currie, Head of Commodity Research at a leading investment company, 2024
What is the impact of this transaction on the cryptocurrency market?
Large-scale transactions like this often attract attention in the cryptocurrency community and can affect Bitcoin's liquidation and short-term price volatility. At the same time, it also demonstrates the trend of asset movement towards reliable exchanges with stricter risk management.
Practical examples of previous large transactions by financial institutions
Many other large financial institutions, such as cryptocurrency investment funds, frequently move BTC to wallets of major exchanges for liquidity purposes or portfolio rebalancing. A 2023 Chainalysis study showed that transactions on Coinbase Prime account for a large portion of institutional fund flow.
Frequently Asked Questions
Through what data source was Grayscale's BTC transaction confirmed?
The transaction was verified through on-chain data, allowing direct tracking of wallet addresses and money transfer flows on the Bitcoin Blockchain network.
What does transferring BTC to Coinbase Prime mean for Grayscale?
This is a step to increase flexibility in asset management, arrange liquidation, and ensure safe custody for institutional client investments.
Will the Bitcoin market status be affected by this transaction?
Large transactions often cause short-term volatility, however, the impact is stable when processed by reliable exchanges with high liquidation.
Do other institutions have similar activities to Grayscale?
Very common. Cryptocurrency funds frequently move large assets for effective risk management and liquidation.
Is on-chain data a stable source for tracking large transactions?
On-chain is a reliable source for tracking Blockchain transactions, reflecting the transparency of cryptocurrency transfer activities.