US Government Transfers Over $160 Million Worth of Bitcoin to Coinbase Prime Three Times, Operations May Influence Market Volatility
Publication Time:2024-08-15 14:41:06
Recently, data shows that the US government transferred a total of 15,940 bitcoins to the Coinbase Prime platform in three separate transactions during 2022. The value of this batch of bitcoins is approximately $966.4 million, indicating the government's continuous attention and involvement in the cryptocurrency market. Notably, the first two transfer operations were observed to have a significant impact on the market – the price of bitcoin dropped by about 5% within three days after each transfer. These data have sparked discussions in the industry about how government actions may influence the trend of the cryptocurrency market.
Market Volatility
Bitcoin
Coinbase Prime
US government
Large-scale transactions