Citing TheMarketPeriodical, Coinbase began a large wallet migration on November 22, moving billions in Bitcoin and Ethereum between internal wallets as part of a planned security upgrade. The exchange confirmed the process, which took place in the United States, did not involve asset sales or conversions and had no impact on customer activity or deposit addresses. Analysts noted that the on-chain movements were internal and did not affect market prices or supply.
Coinbase Migrates Billions in BTC and ETH for Security Upgrade
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