ChainCatcher reported that, according to monitoring by Onchain Lens, Grayscale deposited 1,863 BTC into Coinbase. Based on the current price cited in the report, the transfer was worth approximately $123.66 million. The disclosed on-chain movement involves three named elements: Grayscale, Coinbase and Bitcoin.
The report identifies the deposit direction, the BTC amount and its estimated dollar value at current prices. Bitcoin is a major crypto asset, while Coinbase is a crypto asset trading platform, so large transfers of this type are categorized under whale movement monitoring.
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