Institutional Accumulation Continues – 11,800 BTC Reportedly Outflow From Coinbase

The mass adoption of Bitcoin and other digital assets has been one of the most important goals that the crypto industry has set. There have been a lot of moves made in this direction and they continue.

Now, it’s been just revealed that 11,800 BTC reportedly outflow from Coinbase.

Someone commented: “This can be inaccurate. Because many unknown wallets are assumed as outflow, while many of them are actually internal transfer. It happened so many times in the past.”

Another follower said: “This is def OTC at coinbase. They are not spot buying 12k BTC over and over again.”

Speaking of Coinbase, the platform has been making headlines a lot lately.

Coinbase is rumoured to acquire data analytics firm Skew

Coinbase is making headlines again following the latest reports that the platform might acquire the data analytics firm Skew.

This is the first acquisition deal following its blockbuster direct listing earlier this month.

It’s been revealed Coinbase began trading publicly on April 14, will plug Skew’s data – which spans derivatives and spot volumes, charts, and information around bitcoin’s volatility – into its institutional prime brokerage platform, Coinbase Prime, according to the latest reports coming from The Block Crypto.

In other news, Yahoo Finance just dropped an article that says the fact that crypto just went mainstream.

“Starting today, PayPal users in the US can link their accounts to Coinbase to make it easier to buy digital currencies like Bitcoin, Ethereum and Litecoin,” the notes read.

They also reported that “Previously, funding those purchases often meant using a debit card or a more time-consuming method like a wire transfer. With today’s update, Coinbase says you can fund your purchases “instantly.”

Stay tuned for more important news and keep your eyes peeled on the crypto market.

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An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
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