A total of $1.3 billion of USD Coin (USDC $1.00) in transfers from apparent whale addresses to crypto exchange Coinbase on Thursday could potentially be a “giant buy signal” for Bitcoin (BTC $64,305) and Ether (ETH $3,139), according to market observers. 

“USDC moving onto exchanges is a giant buy signal, as the saying goes on the internet ‘money printer go brr,’” crypto trader Blockchain Mane told Cointelegraph.

The five transfers totaling $1.3 billion — with the amounts ranging from $150 million to $350 million — were made to Coinbase on April 25 at 08:15 UTC, according to Etherscan data.

Chart

Five large amounts of USDC were transferred to Coinbase at the same time. Source: WhaleBot Alerts

Traders often view large stablecoin deposits on exchanges as a bullish sign, indicating possible large buy orders in the near future, while significant crypto deposits on exchanges can signal a potential sell-off, making traders wary of a downturn.

“If this is indeed a whale buying and at current prices then yes, it can have a big impact on the price of the asset they are buying, which at that level is almost certainly only Bitcoin and Ethereum,” crypto commentator Lark Davis aka “The Crypto Lark” told Cointelegraph.

Chart

Bitcoin is trading at $64,389 at the time of publication. Source: CoinMarketCap

However, crypto analysts agreed that whale movements are never a guaranteed indicator for the crypto market.

“A lot of attention gets paid to whale movements, but we never really know what they are doing,” Davis said.

“$1.3B is a good amount of capital but it depends on where this is getting deployed,” crypto trader and YouTuber Brian Jung added.

Davis also pointed out that whales might place limit orders instead of instantly buying the assets, which will instead create stronger support levels for the cryptocurrencies they invest in.

“A limit order will go in, creating a buy wall that will act as a layer of price support for the assets,” Davis explained.

However he warned it is “never definitive” how these large transfers will impact the market.

Meanwhile, Jung argued that the market could “shift positively” if a significant amount of funds were to go into a single crypto token as “we would see additional liquidity help move the price of other cryptos up.”

Although he is doubtful an investor would see the benefit of doing so, due to overexposure risks.

If this amount were deployed into a single altcoin with a $100M market cap, it would absolutely spike the price, but I can’t imagine any whale in their right mind doing this as it would make it nearly impossible for them to be profitable by doing so.

“If it was used to buy Bitcoin, it wouldn’t have a similar effect,” Jung added.

The large movement of funds happened despite the crypto market sentiment slightly declining, according to the Fear and Greed Index.

The Greed score dropped from 64.04 to a neutral level of 59.78 over the past 24 hours, suggesting a shift in traders’ focus away from accumulation.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Recommended content


Recommended Content

Editors’ Picks

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

Crypto bloodbath: $325 billion market cap vanishes amid selling pressure

The Kobeissi Letter reports on Tuesday a $325 billion wipeout in the crypto market capitalization since Friday. Additionally, Bloomberg reports that Citadel Securities, a firm with $65 billion in assets, is exploring a role as a Bitcoin and crypto liquidity provider.

More Cryptocurrencies News
Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin edges below $90,000, ending its long streak of consolidation

Bitcoin (BTC) continues to trade in red, reaching a low of $88,200 during Tuesday’s early Europen trading session and hitting the lowest level since mid-November after falling 4.89% the previous day.

More Bitcoin News
Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu holders unload 61.5 billion tokens in the last ten days

Shiba Inu price hovers around $0.000013 on Tuesday after dropping nearly 12% the previous day. Supply Distribution data shows that whale wallets have decreased SHIB holdings in the last ten days.

More Shiba Inu News
XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

XRP eyes further downside as Trump to implement tariffs on Mexico, Canada, in March

Ripple's XRP joined the wider crypto market decline, plunging nearly 10% on Monday following President Donald Trump reiterating that the US will kick off tariffs on Mexico and Canada.

More Ripple News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP