Crypto markets have shed nearly $200 billion off their market cap in the last 24 hours as some of the industry\u2019s biggest players appear keen to unload their coins.<\/p>\n
According to crypto \u201cde-anonymizing\u201d platform Arkham, digital assets manager Grayscale has sent nearly a quarter of a billion dollars worth of Bitcoin (BTC<\/a>) to Coinbase, potentially to sell on the open market.<\/p>\n Arkham\u2019s data shows Grayscale sending BTC to Coinbase Prime or addresses<\/a> associated with Coinbase mostly in batches of $42.84 million.<\/p>\n According to Arkham, Grayscale also deposited considerable amounts of altcoins, including Ethereum (ETH), Avalanche (AVAX<\/a>), Polygon (MATIC<\/a>), Lido (LDO<\/a>), Uniswap (UNI<\/a>), Aave<\/a>, Chainlink (LINK<\/a>) and others.<\/p>\n After the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETF), Grayscale saw billions in outflows as holders of the firm\u2019s Bitcoin Trust (GBTC) opted for ETFs with lower fees.<\/p>\n Whale tracking service Whale Alert also spotted several large transfers headed to wallets belonging to Coinbase, including:<\/p>\n Grayscale\u2019s offloading and the other large whale transfers have coincided with a correction in digital assets markets.<\/p>\n According to crypto data aggregator Coinglass<\/a>, more than $316.29 million of liquidations have occurred in the last 24 hours \u2013 the vast majority of which being traders attempting to leverage long Bitcoin during the dip.<\/p>\n At time of writing, Bitcoin is trading at $60,069, down 18.2% from its all-time high.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Featured Image: Shutterstock\/INelson<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Crypto markets have shed nearly $200 billion off their market cap in the last 24 hours as some of the industry\u2019s biggest players appear keen to unload their coins. According to crypto \u201cde-anonymizing\u201d platform Arkham, digital assets manager Grayscale has sent nearly a quarter of a billion dollars worth of Bitcoin (BTC) to Coinbase, potentially […]<\/p>\n","protected":false},"author":2,"featured_media":293081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-293080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=293080"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293080\/revisions"}],"predecessor-version":[{"id":293083,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293080\/revisions\/293083"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/293081"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=293080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=293080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=293080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n