Whale deposits $50.1M in cbBTC to Coinbase, nets $1.1M profit

An anonymous whale who previously bought Bitcoin at a market low has taken profits by selling a portion of the holdings, according to on-chain analyst EmberCN. The whale transferred 670 cbBTC, worth approximately $50.11 million, to Coinbase a short time ago. This sale is part of a larger holding of 4,000 cbBTC acquired in early February at an average price of $73,837. The transaction is estimated to have netted a profit of around $1.1 million. The whale's address still holds crypto assets valued at $556 million, including 138,000 ETH (worth about $330 million) and 3,000 cbBTC (worth about $226 million).