Coinbase sells 12,652 ETH in the fourth quarter

Coinbase, one of the greatest exchanges of cryptocurrency, would have sold 12,652 Ethereum (ETH) in the fourth quarter of 2024, according to Geoffrey Kendrick, manager of digital asset research at Standard Charterd. This sale, worth around 25 million dollars today, has sparked discussions on the question of whether Coinbase sells ETH for strategic gains or simply covering operational expenses.

Coinbase purchase and sale model

Kendrick analyzed Coinbase quarterly reports And found that the exchange holds ETH in different categories, including investment funds and operational reserves. He also noticed a clear diagram: Coinbase tends to buy ETH when prices are low and sell when they increase.

For example, in the third quarter of 2024, when ETH negotiated about $ 2,500, Coinbase was a net buyer. But in the fourth quarter, while ETH climbed $ 4,000, the exchange sold more than it had bought.

Kendrick believes that this suggests that Coinbase focuses on maximizing profits while managing risks, rather than simply accumulating long -term ETH.

Coinbase responds to complaints

In response, Coinbase admitted to having sold ETH, but explained that the funds were used for operational costs rather than negotiating for a lucrative goal. A company spokesperson said this base, Coinbase Blockchain Ethereum Layer-2ETH wins through sequencer costs.

Although most of this ETH is maintained as a long-term investment, part of it is used to cover expenses such as wages, acquisitions, taxes and subsidies.

Coinbase also stressed that it is not a trade -focused entity. The company stressed that its ETH investment assets increased by 20% in 2024, strengthening its assertion that it does not actively exchange cryptocurrencies but can lend or put them in place if necessary.

Meticulous examination and market trends

This is not the first time that Coinbase has faced a meticulous examination on his ETH holdings. Last month, a base representative rejected rumors on the main sales of the ETH, declaring that Coinbase had accumulated more than $ 300 million ETH, more than double its basic income.

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Meanwhile, the price of Ethereum has rebounded, earning more than 7% and crossing the $ 2,000 mark. However, despite this price increase, the American market ETF ETF Spot continues to feel outings.

According to Farside data, ETFS ETS has seen $ 11.7 million Yesterday, in outings, extend a trend of investors who draw money.

ETHEREUM EFFS see heavy losses

Several large ETHEREUM ETHERE have reported significant outings:

• Etha de Blackrock lost $ 12.9 million
• Fidelity feth saw $ 2 million out
• Grayscale Mini ETH experienced a drop of $ 7.7 million

Despite the recent resumption of Ethereum prices, the continuous outings of the ETF suggest that the feeling of investors remains cautious. The biggest question is whether the ETH Coinbase strategy will continue to raise concerns or if its long -term growth assets will reassure the market.