In a surprising turn of events, the cryptocurrency market experienced significant activity today, with a total of $120 million worth of being transferred across major exchanges.
According to reports from , the day commenced with a substantial transaction of 2,818 BTC, equivalent to $75.8 million, sent to the prominent U.S. exchange Coinbase (NASDAQ:COIN). Shortly after, another major transfer unfolded as 1,630 BTC, valued at $43.82 million, was withdrawn from the Bybit exchange.
Delving into the details behind these transactions, on-chain data analysis provides intriguing insights. The sender address involved in the Coinbase transfer had withdrawn the same amount of Bitcoins from a hot wallet earlier in the week, holding them for four days before returning them
