According to on-chain analyst ai_9684xtpa, two hours ago a whale/institution holding $28.54 million worth of DYDX and BLUR deposited 1.5 million BLUR tokens worth $1.07 million into Coinbase. Over the past three weeks, the address has transferred a total of 3.3 million BLUR tokens (worth $2.19 million) to the exchange, which could yield a profit of $660,000 if sold entirely. The remaining 23.88 million BLUR tokens still have an unrealized gain of $5.93 million.
Coinbase: The problem of failed deposits and withdrawals on the website has been solved and user funds are safe
On March 2nd, Coinbase Support tweeted that the issue of failed customer sending, withdrawal, and deposit on Coinbase.com has been resolved, and the website's related functions have been restored, ensuring the safety of user funds.
Coinbase is about to launch two new wallet solutions: Smart Wallet and Embedded Wallet, aimed at making it easier for new users to enter the cryptocurrency field. The Smart Wallet will be a supplement to the Coinbase Wallet SDK, a software toolkit that allows developers to create wallets immediately in decentralized applications using keys, which means no complex systems such as seed phrases or any additional steps are required. The Embedded Wallet will be supported by "Wallet as a Service" (WaaS), which means companies can customize blockchain wallets for their own customers, allowing developers to create white-label embedded wallets that reduce the complexity of cryptocurrencies and instead support familiar email and social login processes."
Coinbase has expanded its asset recovery tool to the BNB Smart Chain and Polygon network. This tool helps users recover unsupported tokens sent in error to their Coinbase address. Coinbase Product Manager Vignesh Muralidharan stated that so far, the tool has helped users recover funds worth over $160 million.
According to the rise of Bitcoin today, after the opening of the US stock market, stocks related to cryptocurrency rose collectively, with MicroStrategy and Marathon Digital up nearly 9%, and Coinbase up nearly 6%.
Today, the US stock market opened and Coinbase (COIN) stock price broke through $180, currently trading at $182.08, with a daily increase of 10.34%. In addition, Coinbase's current stock price has reached a new high in the past month, with a monthly increase of 45.44%.
According to a blog post by Coinbase, 4.7 million adult Texans (21%) own digital assets, according to previous data from Morning Consult. Cryptocurrency owners in Texas represent the state's next generation of voters, with 39% of them aged between 18 and 34, with most of them coming from households with less than $75,000 in income. The survey found that this emerging, young, and more diverse group of voters cares about politicians and leaders' stance on cryptocurrencies, economic opportunities, freedom and fairness, job creation, accessibility, and the technology's global leadership potential. Coinbase stated that as the 2024 US presidential election approaches, Texas is leveraging its natural advantages to become a global cryptocurrency center, and Texas voters support cryptocurrencies.
Coinbase has announced the suspension of Status (SNT) trading on the X platform. Users can still use their funds and continue to withdraw them at any time.
Despite the increasing calls for Nigeria to strengthen its cryptocurrency ban, a spokesperson for the Coinbase trading platform stated that the platform is still accessible in Nigeria, contrary to previous reports from several local media outlets and the Financial Times that several platforms, including Binance, Coinbase, and Kraken, have been blocked by local telecommunications companies at the government's request. The Coinbase spokesperson stated via email, "We are continuing to investigate these reports, but based on preliminary research, Coinbase is still accessible in Nigeria." Behind this event is the continuous decline of the Nigerian official currency, the naira, against the US dollar, as well as the severe cash shortage the country faced prior to last year's national elections. Bayo Onanuga, a senior adviser to the Nigerian president, stated in a post on the X platform on Wednesday that cryptocurrency trading platforms such as Binance "openly set Nigeria's exchange rate," stealing the role of the country's central bank, and called for other companies such as Kucoin and Bybit to also be "banned from operating in our cyberspace." It is worth noting that this is not Nigeria's first measure against cryptocurrency. The Nigerian central bank previously restricted service providers' access to local banking services, but this ban has recently been lifted. Nigeria remains a strong adopter of cryptocurrency, particularly in the area of remittances.
According to data from Arkham Intelligence, Glassnode, and Coinglass, more than 18,000 bitcoins were withdrawn from Coinbase during today's Asian session. The massive outflow of nearly $1 billion severely impacted Coinbase's exchange balance. These funds were sent to several different addresses, with new wallet balances ranging from $45 million to $171 million, and all UTXOs from the initial transaction have been spent. Coinbase currently holds about 390,000 bitcoins, worth about $20.5 billion. This balance is less than 2% of the total supply of bitcoins on the exchange, the lowest percentage since 2015.