Metaplanet deposits $79.8M in BTC to Coinbase Prime 1 hour ago

Japan-listed Bitcoin treasury company Metaplanet deposited 1,000 BTC worth $79.77 million to Coinbase Prime an hour ago, according to Lookonchain. While exchange deposits are typically interpreted as a sign of potential selling, Coinbase Prime is a prime brokerage platform offering trading, custody, and financing services for institutional investors, indicating the transfer may have had other purposes as well. Metaplanet holds a total of 43,000 BTC, with an average purchase price of $96,191.