Grayscale Deposits $47.59 Million Worth of ETH to Coinbase Prime
CryptoNewsTerminal Staff06 Aug, 2024
Grayscale Deposits $47.59 Million Worth of ETH to Coinbase Prime
According to blockchain analytics firm ARKAM data, Grayscale's Suspected Address deposited 19,479 ETH (worth $47.59 million) to Coinbase Prime just 5 minutes ago. Grayscale is a leading digital currency asset manager and Coinbase Prime is a custodial service for institutional investors. This move by Grayscale indicates that they are increasing their exposure to Ethereum (ETH). The price of ETH has been on a steady upward trend in recent months, and it is currently trading at around $2,450. This has led to increased interest from institutional investors, who are looking for ways to gain exposure to the digital currency market. Grayscale's deposit of ETH to Coinbase Prime is a sign that this trend is likely to continue in the future.
