21Shares Deposits $16.52M Worth of ETH to Coinbase in 9 Hours
CryptoNewsTerminal Staff12 Aug, 2024
21Shares Deposits $16.52M Worth of ETH to Coinbase in 9 Hours
21Shares Deposits $16.52M Worth of ETH to Coinbase in 9 Hours On-chain analyst ai_9684xtpa shared via Twitter that "2 anonymous addresses, likely belonging to the crypto ETP issuer 21Shares, deposited 6,208 ETH (worth $16.52 million) to Coinbase in the last 9 hours. The average price at which these addresses bought ETH was $2,662." ETH is currently trading at $2,711.59, down 0.36%, according to CoinMarketCap. This indicates a potential profit for 21Shares if they decide to sell their ETH holdings. This move by 21Shares highlights the increasing institutional interest in the cryptocurrency market. As more and more institutions enter the space, it is likely that we will see more large-scale ETH transactions in the future.
