Data: Coinbase saw outflows of over $1 billion in ETH yesterday, setting a new record for the highest single-day outflow this year

ChainCatcher news, according to CryptoPotato, yesterday Coinbase saw an outflow of over 336,000 ETH, setting a record for the highest single-day outflow this year, valued at over $1 billion. This marks the fifth time in 2024 that the exchange has experienced a single-day outflow exceeding 150,000 ETH, and the specific details regarding this large-scale fund transfer remain unclear.

CryptoQuant analysis indicates that the scale of these transactions ranges from $400 million to $1.1 billion, suggesting that they are unlikely to be driven by individual investors, but rather by whales or unidentified institutions. If these withdrawals are not internal movements within the exchange, this could signal a very optimistic long-term outlook for Ethereum. It is worth mentioning that CryptoQuant analysts also pointed out similar activities on Coinbase before the trading of Bitcoin spot ETFs began.