Coinbase Prime Transfers 2,216 BTC Worth $220M to Anonymous Address

16 January, 2025, 03:30 PM

Coinbase Prime, a cryptocurrency custody service, has transferred 2,216 BTC to an anonymous address. This transfer is worth about $220 million. The transaction was detected by Whale Alert, a service that tracks large cryptocurrency transactions. The BTC was sent from a Coinbase Prime address to an unknown address. This is the second large BTC transfer from Coinbase Prime in recent months. In October, Coinbase Prime transferred 1,000 BTC to an unknown address. The reason for these transfers is unknown. However, it is possible that Coinbase Prime is moving BTC to cold storage or to another exchange. Whatever the reason, these large BTC transfers are a sign of the growing popularity of cryptocurrency. As more people adopt cryptocurrency, we can expect to see more large transactions like these.