Well, the entity is transferring FROM Coinbase, not to it, so most likely a whale withdrawing to another account/wallet and not selling.
The rest..sure, some OGs are "stupidly" selling, perhaps.
I guess the number being close to six digists is like an aphrodisiac for a sell by them, assuming a buy (for less that $1) or mine in 2010.
It must be hard to hodl when you are up almost 100000X (made a mil on each $10 invested, lol) and overall situation is, perhaps, sub-optimal (or at least this is the prevalent "vibe").
That Fidelity guy (Peter Lynch) was always suggesting to take profits at 10x..so they are "overdue".
Good point(s). And I prob picked a bad example of a "whale move". But at the same time I am assuming there's still a fair chance these moves are related to lots or even combinations of lots sold over the counter.
Could also be CB just rotating things or upgrading coins already in storage to a new address for some internal reason.
Speaking of which I hope the security folks there really really know what they are doing.
Also. The combination of various layer 2 systems (including plain old custodial systems) as well as less interest in monkey jpegs for a moment have cleared mempools for sure. Transactions are being batched I expect as well.
I know Philip has expressed concern that things like lightning will kill mining.
I do not think we will see clear mempools for long.
The race is on. We WILL see more large moves happening as settlement for various things though seeing as there seems to be quite the uptick in big players filling in.
Such intersting times.
Hopefully India and Pakistan can chill out. 😜
