Massive Bitcoin Transfer: $670 Million Moves to Coinbase in Hours

A record-breaking transfer of over $670 million worth of Bitcoin (BTC) has been made to Coinbase, the popular US-based cryptocurrency exchange. On May 22nd, Whale Alert reported that multiple unknown whales moved a significant volume of BTC— totaling 6,016 BTC in just a few hours. The transactions were executed in rapid succession, involving identical amounts and distinct unknown wallets. While specific identities of the senders remain unknown, the transfers were consistent in size and execution. This transfer coincides with Bitcoin’s recent bull run, hitting new all-time highs, leading to speculation about its purpose.