53,400 ETH moved to Coinbase, here's impact on Ethereum price $ETH
The second motive is to trade on the volatile derivatives market. Finally, investors occasionally send their assets to exchanges for staking, airdropping or just reshuffling purposes. There is not much to conclude about pricing or volatility in this situation. This reason for action is often interpreted as neutral.
Despite all these reasons, a large chunk of the move was related to an internal wallet shift by Coinbase, so the impact on the ETH price was neutral. Wu reports that 44,000 ETH were transferred between Coinbase wallets, which may be due to the cancellation of ETH staking.At the time of writing, Ethereum was up 1.44% in the last 24 hours to $1,829. On-chain analytics firm
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