The post Coinbase Witnesses ETH Outflow Exceeding $1 Billion appeared first on Coinpedia Fintech News
Coinbase witnessed the largest Ethereum Outflow of the year exceeding $1 billion. The massive movement has raised speculations over its potential implications on Ethereum and the broader market. Over 336,000 ETH were withdrawn from the trading platform worth $1.17 billion on June 12, 2024. This marks the fifth time in 2024 that Coinbase saw withdrawals over 150,000 ETH. The range of these transactions varied from $400 million to $1.1 billion. The large-scale movements could signal a positive indicator for Ethereum’s long-term prospects.