Standard Charted: Coinbase “was proactively sold” 37 million dollars from ETAREUM in the fourth quarter

Analyst of a multinational bank Carted Standard It is believed that Crypto Excination Coinbase “is proactively sold” 12,652 ethereum (About 37 million dollars) during the fourth quarter 2024. They explained this Coinbase 2 class network The demand for Ethereum is paid, but the company’s profits are harmed by the basic procedure for Blockchain.

Carted Standard It reduced its target price 2025 for Ethereum From $ 10,000 to $ 4000 earlier this week. At that time, Jeff Kendrick, the international head of the bank’s digital asset research, has claimed this Layer Network 2 Al Qaeda removed $ 50 billion from Market Cat Eth– Now, he says this because of the profits.

“My point is that increasing the activity on the base increases the demand for ETH in the first place,” Kendrick participated with Decipher. “But then, all BASE profits (which is about 80 % of all revenues) (sell ETH-Us) are sold to effectively return the profits to Coinbase.”

To support his demands, the analyst refers to the quarterly Ethereum Holdings in Coinbase for investments and operations by Kendrick and then offering them from the basic profits.

“This tells me that in Q4 2024, Coinbase has sold 12,652 eth,” I explained. “For 3 quarters of the pure, possibility sale, 1558 ETH has been. While there are only 3 quarters of relevant post -DENCun data so far, I think we can conclude that Coinbase is not in ETH profits at Hodling Base.”

Take the average price in the fourth quarter 2024, using the open quarter and closing, and this works to about 37.68 million dollars sold by Coinbase.

Ethereum Decun upgrade He went directly in March of last year and greatly reduced gas fees on class 2 networks. Since then, the analyst believes that Coinbase has shown its intention to sell as part of the “modified decision -making process for regular risks”.

A spokesman for Coinbase said Decipher This rule, “ETH gains from the chain fees, and the ETH that we win in the first place is detained for long -term investment or used in operational expenditures, including tax obligations and growth in growth through things such as salaries, grants, acquisitions and financing public goods.”

They added, “Separately, we also keep some ETH for long -term investment, and Coinbase reports for our coding assets specifically for long investment -as part of our general quarterly profit deposits.” Quoted 10,000 thousand people from the company, a spokesman for the inter -metaphor preserved for investment is primarily in the long term … We do not engage in regular trading of these assets, but they may lend them through the main financing or their participation, “adding that” ETH) grew for investment by 20 % over the course of 2024. “

In the Charterd’s standard memorandum earlier in the week, he argued that conducting transactions across class 2 networks negatively affects the basic Blockchain because Ethereum receives fewer fees in general. In contrast, this reduces the “GDP” of Ethereum Blockchain and the amount of gas fees it collects from transactions, which means that the foundation arrests more new metal currencies to pay expenses.

Base created by Coinbase, is the Layer-2 network based on the top of ETHEREUM aimed at helping to expand Blockchain’s basic capabilities, as well as offering a bridge of the famous central exchange.

Carted’s record analyst believes that considering Coinbase’s ETHEREUM’s ETHEREUM possessions during the past three quarters reveals its goals as a company.

Kendrick added: “The fact that they bought in the third quarter (when the prices were low on average) and the net sold in the fourth quarter (average prices) tells me Coinbase’s work like any maximum rate of risk.”

Although the target price of Standard Charged for ETAREUM, the cryptocurrency increases by 5.6 % per day and 4.6 % per week, for each data from Coingeckowhile Bitcoin It was often circulated at the same time.

As a result, more than 70 % of users in the decentralized prediction market – was launched by DecipherThe parent company Dastan – believe it The relative price for Ethereum Bitcoin will be higher than $ 0.023 By the end of the week.

This article was updated to integrate comments from Coinbase.