Whale Alert: 174M USDC Transfer Go Coinbase From Unknown Wallet
According to Whale Alert data for August 23, total 174 million USDC transfer from unknown wallet go enter Coinbase. As big stablecoin money wey enter one centralized exchange, dis deposit fit increase liquidity and e fit mean say selling pressure dey come soon. Traders suppose dey watch if the new USDC wey dem put for there go change to trading pairs or dem go withdraw am as fiat, because big stablecoin movements don be before market correction and rallies. To dey watch such exchange inflows na important for short-term price prediction and liquidity management.
Bearish
Di big influx of 174 million USDC go enter Coinbase don increase stablecoin liquidity for di exchange, and dis one don dey happen before wey big holders dey convert stablecoins to other assets or fiat. Wetin happen before be say, after dis kain inflow, price correction usually dey happen. For short term, traders fit face pressure to sell as di deposited USDC enter market, so di outlook dey bearish. But for long term, stablecoin movement na neutral sign, market go follow di next trading activities and broad market sentiment decide im real direction.