Data from Analytica revealed that the US leading crypto exchange, Coinbase has moved slightly over 11,800 Bitcoins from its exchange to a cold storage vault. The coins that were moved thirteen hours ago belong to institutions.
CryptoQuant, a platform that shows Bitcoin exchange flows, has indicated that an institution bought 11,827 BTCs from Coinbase Pro and immediately moved them into cold storage. The Bitcoins have a current market value of $670,995,053.
— Whale Alert (@whale_alert) April 30, 2021
The whale move continues to signify the growing interest by institutions to invest in crypto. Big firms such as Goldman Sachs and JP Morgan have indicated that they will expose their high-profile customers to cryptocurrencies.
Skyrocketing Crypto Prices
Yesterday, April 30, BTC moved from $53,000 to $57,000 within hours closing the month in the green zone. Ethereum, the second largest crypto has hit a new all time high of $2,846 at the time of writing this while Binance Coin (BNB) is at $640.
The market appears to be in a full bull run with most cryptocurrencies in the green zone. Most of the coins seem to be headed for prices witnessed during the 2017/2018 bull market. Crypto analysts believe that the trend may continue into May.