Whale Alert, a popular blockchain tracking platform that monitors the movement of large cryptocurrency between crypto exchanges and individuals, has discovered several consecutive transfers that cumulatively carry around $307 million worth of Bitcoin.
These withdrawals were made by anonymous wallets as prices for the world’s largest digital currency have returned a bit, and for the time being, recently reached the $104,000 level.
Bitcoin $307 million withdrawn from Coinbase
The above data source discovered six consecutive transfers that were made several hours ago. Each ranges between 493 BTC and 514 BTC, each worth around $50 million. This is a total of 2,988 btc worth $307.4 million.
This data is from the Whale Alert website and is not published to your X account. While this may seem like these Bitcoin chunks have been withdrawn from Coinbase, the largest cryptocurrency exchange in the US by anonymous whales, the details of each transaction shared by the Whale Alert here suggest that some of these transfers have been sent directly to the wallet associated with Coinbase. This makes the internal transaction an internal transaction, as the platform decides to reshuffle some of the Bitcoin Holdings.
Coinbase holds a huge amount of Bitcoin that acts as a custodian for its retail customers as well as for its customers in many institutions. In particular, it holds BTC, a spot Bitcoin ETF operated by BlackRock, Fidelity, and BitWise.
In the past day, Bitcoin has dumped nearly 2%, falling from $104,017 to a price level of $102,055, and has changed hands as of writing this article.
Galaxy Digital Shavels ETH to Coinbase
Another recently published data related to Coinbase is linked to Ethereum, the second largest cryptocurrency, and Galaxy Digital, a fund founded and operated by renowned investor and former Goldman Sachs partner Mike Novogratz.
This data was shared with the Crypto community by X’s SpotonChain Analytics account. According to the tweet, Galaxy Digital created a massive deposit of 39,834 ETH (over $133.6 million) on Coinbase almost 10 hours ago.
Amid a small market pullback, Galaxy Digital has accumulated on #coinbase at 39,834 $ETH (~$103.6m) in the last 8 hours!
To track #Ethereum Moves on #GalaxyDigital, follow @spotonchain at https://t.co/fqxixatjdr pic.twitter.com/wfpixqfur2
– May 15th, 2025, spots from the chain (@spotonchain)
As pointed out in the X Post, Galaxy Digital shoveled this $103.6 million worth of Ethereum to Coinbase with a shovel as ETH fell 5.64% in the past day, losing its local high of $2,700 and traded for $2,560 at the moment.
