A 640 BTC transfer worth approximately $50.88 million moved from an unknown wallet to Coinbase Institutional on Aug. 27, according to Whale Alert. The high-value deposit underscores how large players are positioning themselves on institutional-grade platforms.
Separately, asset management giant BlackRock purchased 27,722 BTC valued at about $2.2 billion and 385,633 ETH worth roughly $961 million over eight consecutive trading days, bringing total crypto accumulation to approximately $3.16 billion. The purchases were highlighted by on-chain influencer @lookonchain.
The combined activity points to growing institutional demand for Bitcoin and Ethereum. Traders are watching whether sustained accumulation from major financial players creates stronger support, increases trading volumes, and encourages other institutions to enter the market.
This article is for informational purposes only and does not constitute financial advice.
