Five new addresses withdrew 29,598 ETH from Coinbase eight hours ago, worth $68.94 million.

CoinFeed reported on March 18th that, according to on-chain analyst @ai_9684xtpa, five new addresses withdrew 29,598 ETH from Coinbase eight hours ago, worth $68.94 million. The receiving addresses have not yet transferred or sold the funds, with an average withdrawal price of $2,329. It is currently unclear whether this is due to whales/institutions accumulating positions or hot wallets consolidating funds.