Coinbase Sees $1.6 Billion Outflow from Multi-chain Assets in a Week!

The post Coinbase Sees $1.6 Billion Outflow from Multi-chain Assets in a Week! appeared first on Coinpedia Fintech News

Coinbase, one of the world’s largest cryptocurrency exchanges, has experienced a net outflow of over $1.616 billion in multi-chain assets, excluding Bitcoin, in the past week. The majority of the outflow came from Coinbase Custody, leading to speculation that the company may be conducting internal wallet transfers. This means that institutional clients are shifting their assets to other platforms or converting them to Bitcoin due to the recent surge in its price. Despite experiencing intermittent outages and slowdowns, Coinbase remains a popular choice for cryptocurrency investors and traders.