Despite the lack of actions in the cryptocurrency market recently, there is still much that has been happening behind the scenes of price schedules, especially in the kingdom in the chain.
Large translations are still happening, whales shuffle their crypto -stall, and exchanges control their hot wallets and deposits. The fact that the recent shiba inu (shib) shift was between these two options remains open for speculation.
Nevertheless, this is the fact that only a week after the acquisition of almost 152 billion shibkov, which is equivalent to about $ 2.28 million in a popular cryptocurrency, inspired by a meme, a wallet at 0x4C92, which transmitted all its tokens to the leading exchange of Coinbase cryptocurrencies.
That personality certificate
Interestingly, the tokens were also removed from Coinbase, in two separate tranches. They returned to the exchanges a week later with one batch of Shiba, sent directly to the exchange.
What was it?
In the general perception of crypto -market participants, such shifts are considered as an intention to sell in a large organization. The logic is that whales choose the most liquid platform to unload their assets. This guarantees minimal slippage and price.
If you try to look at it from a different angle, this can be considered as the internal operation of Coinbase itself. Nevertheless, this theory has some disadvantages, such as the fact that a small amount of ETH was acquired to facilitate the initial transactions, and this may indicate that the received address was really decentralized and did not belong to Coinbase. There is still some ETH in the wallet.
What caused such a rapid change in mood is actually not a question, since the cryptocurrency market looks like a hot mess these days. Nevertheless, the lack of patience when working with billions of coins worth the cost of millions of dollars can still be amazing.
