Dormant Wallets Move 8,000 BTC, Indicating Possible Institutional OTC Activity via Coinbase Prime
2025-07-09 16:19:01
Main Idea
Two dormant wallets moved 8,000 BTC under Coinbase Prime Custody, indicating strategic OTC activity and institutional reallocation rather than retail or ETF-related movements.
Key Points
1. The 8,000 BTC transfer involved wallets inactive since 2017, linked to Xapo Bank, and was likely part of institutional reallocation.
2. Coinbase's 2019 acquisition of Xapo’s institutional custody business consolidated over 514,000 BTC under Coinbase Custody.
3. The movement suggests Over-the-Counter (OTC) trading activity, aimed at minimizing market impact and fulfilling corporate liquidity needs.
4. CryptoQuant’s analysis indicates the transfer was likely to replenish OTC liquidity, not driven by retail or ETF-related activity.
5. The activation of dormant wallets under professional custody like Coinbase Prime highlights institutional strategies for large-scale transactions without disrupting market stability.
Description
Two long-dormant wallets have moved a substantial 8,000 BTC, signaling significant institutional activity linked to Coinbase Prime Custody. This movement reflects strategic Over-the-Counter (OTC) transactions rather than retail or ETF-driven
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