Coinbase triggered major attention after billions in BTC and ETH moved across its wallets, sparking speculation before the exchange confirmed a planned migration. Now the full on-chain trail shows a coordinated internal shift rather than any market-moving outflow.

Coinbase Shifts Billions in BTC and ETH Between Cold Wallets

Coinbaseis moving billions of dollars in Bitcoin and Ether between its own wallets, according to on-chain data. A new Arkham Intelligence dashboard