#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #WCT # #كريبتو #العملات_الرقمية #تداول #استثمار #بيتكوين #تعلم_التداول #دعم_ومقاومة #Zcrypto $USDC
Bitmine Immersion Technologies transferred about 9600 Ethereum (19.5 million US dollars) to Coinbase Prime wallets.
This transfer does not necessarily mean the sale of the currency and may be for custody purposes or internal portfolio management.
Bitmine Immersion Technologies transferred 9600 Ethereum, worth approximately 19.5 million US dollars, to its account linked to the Coinbase Prime platform on Tuesday. According to a report from Arkham Intelligence, the transfers were made in two separate transactions. The analyst notes that these transfers do not necessarily indicate Bitmine's intention to sell its Ethereum holdings.
Two major transfers
The first transaction converted 5300 Ethereum, worth approximately 10.75 million US dollars, while the second transaction converted 4308 Ethereum, worth approximately 8.74 million US dollars. Both transactions passed through an intermediary wallet before reaching the hot wallet of the Coinbase Prime platform, which is a popular platform among institutional investors.
Some recent movements in the cryptocurrency market may suggest that investors are ready to sell, but this may not be the case here. Coinbase Prime, with its trading, custody, and portfolio management tools, is primarily a platform dedicated to institutional clients. Therefore, the transfer to Coinbase Prime may occur for various reasons; thus, the transfer itself is not conclusive evidence of any immediate selling activity.
The Bitmine platform acquired over 4.5 million Ethereum from its total holdings last week by purchasing 60,976 Ethereum. Despite its large holdings, the value of Bitmine's cryptocurrency holdings is currently estimated at about 2.25 billion dollars, down from its peak of around 16 billion dollars in October 2024. This decline is significantly linked to the drop in the price of Ethereum in the market, and estimates suggest that Bitmine is currently losing 7 billion dollars from its holdings. Recent transfers have drawn attention to blockchain technology, and analysts say it should be viewed in a broader context of institutional cryptocurrency operations.$XRP
