Metaplanet sends about $62.2M in BTC to Coinbase Prime

Metaplanet deposited an additional 800 BTC worth $62.19 million into Coinbase Prime, Onchain Lens reported. While exchange deposits are typically interpreted as a sign of potential selling, Coinbase Prime is a prime brokerage platform for institutional investors that offers trading, custody and financing services, suggesting the transfer may have served other purposes. Metaplanet has been depositing BTC into Coinbase Prime since Aug. 25.