KULR don put 300 BTC for Coinbase Prime as losses near $18M

Published: 2026-05-13 20:09:25 |

For May 13, 2026, on-chain data show say KULR Technology (NYSE: KULR) drop 300 BTC (bout $24.36M) for Coinbase Prime. Traders dey watch the inflow to KULR’s Coinbase Prime close because e fit look like pre-sale movement instead of normal custody wahala. The deposit land about three hours before one X alert. Analytics wey Lookonchain highlight dey link the timing to possible sell-side or liquidation-adjacent action. Dem talk say KULR get about 1,021 BTC and dem buy am for average price near $98,627. With BTC dey trade around $81,000 then, e mean unrealized losses of about $17.8M. The latest article add another explanation: KULR don get $20M credit facility from Coinbase Credit before, wey dem secure with BTC. So the Coinbase Prime deposit fit also be collateral reshuffling related to credit management. Still, the story dey come as corporate BTC demand weak for 2026: non-Strategy companies BTC buying drop about 99% compared to August 2025 peak, while Strategy-led buying still dominate. KULR never comment publicly. For traders, the short-term signal be the main thing: whether the 300 BTC go remain for Coinbase Prime to support credit/collateral operations, or e go precede BTC exit to market selling.

Bearish

Big move of 300 BTC wey KULR carry go Coinbase Prime fit show say dem dey prepare to sell or kin near liquidation, especially as Lookonchain timing analysis plus the company big unrealised losses (~$17.8M) dey considered. That kind framing fit make short-term caution rise and make momentum traders dey expect possible BTC supply. But the latest article still give credible hedge: KULR get $20M BTC-secured credit facility with Coinbase Credit, so the Coinbase Prime deposit fit just be collateral reshuffle rather than immediate selling. So market impact no confirmed. Net effect: short-term sentiment lean bearish as traders dey wait for follow-on behavior (stay for custody vs. move out in smaller flows). Longer-term impact likely limited unless the transfer followed by visible BTC exits on exchanges or other custody changes wey resemble liquidation.