Coinbase saw an outflow of over $1 billion in ETH yesterday, setting a record for the highest single-day outflow this year

Odaily Odaily reported that on June 12, Coinbase outflowed more than 336,000 ETH, setting a record for the highest single-day outflow this year, with a value of more than US$1 billion. This is also the fifth time in 2024 that the exchange has outflowed more than 150,000 ETH in a single day. The specific information of this large-scale fund transfer is still unclear. CryptoQuant analysis pointed out that the scale of these transactions ranged from US$400 million to US$1.1 billion, indicating that they are unlikely to be driven by individual investors, but by whales or unidentified institutions. If these withdrawals are not changes within the exchange, then this may indicate that the long-term prospects for Ethereum are very optimistic. It is worth mentioning that CryptoQuant analysts also pointed out similar activities on Coinbase before the Bitcoin spot ETF began trading. (CryptoPotato)