1. PixelPlaygroundHome
  2. Metaverse Insights

Large-scale transfer of USDC to Coinbase

• Metaverse Insights • 112 views

According to the report, Whale Alert data showed that at 12:05 Beijing time today, USDC Treasury cast 100000000 USDCs and then transferred them to Coinbase.<br…

Large-scale transfer of USDC to Coinbase

According to the report, Whale Alert data showed that at 12:05 Beijing time today, USDC Treasury cast 100000000 USDCs and then transferred them to Coinbase.

USDC Treasury founds 100 million USDC transferred to Coinbase

Analysis based on this information:


The recent transfer of 100000000 USDCs to cryptocurrency exchange, Coinbase, has raised eyebrows in the crypto community. The transfer was initiated by USDC Treasury at 12:05 Beijing time, and was monitored by Whale Alert, a platform that tracks large-scale cryptocurrency transfers.

USDC, also known as USD Coin, is a stablecoin that is pegged to the US dollar. It is issued by Centre Consortium, which is backed by Circle and Coinbase. The stablecoin has been gaining popularity among cryptocurrency traders due to its stable value and ease of use. The recent transfer of 100 million USDCs to Coinbase suggests that the exchange is looking to increase its supply of the stablecoin and meet the rising demand from its customers.

Coinbase has been expanding its services in recent months, and the addition of a stablecoin like USDC could help the exchange attract more customers. Stablecoins are seen as a safer option for traders who want to hedge against market volatility. USDC, in particular, has gained a reputation for being one of the most reliable and secure stablecoins in the market.

The transfer of such a large amount of USDCs also suggests that there is strong demand for the stablecoin among institutional investors. These investors are often wary of the volatility of other cryptocurrencies like Bitcoin, and prefer to invest in stablecoins that offer a more predictable return on investment.

Overall, the transfer of 100 million USDCs to Coinbase is a sign that the cryptocurrency market is maturing and that stablecoins are becoming an increasingly important part of the ecosystem. As more investors turn to stablecoins as a way to manage risk, it is likely that we will see more large-scale transfers like this in the future.

In conclusion, the recent transfer of 100 million USDCs to Coinbase is a significant development in the world of cryptocurrency trading. It highlights the growing demand for stablecoins like USDC and suggests that Coinbase is positioning itself to take advantage of this trend. With more institutional investors turning to stablecoins as a way to manage risk, it is likely that we will see more large-scale transfers like this in the future.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/8506/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/10/2023 04:03
Next 03/10/2023 04:47

Recommended articles