Investors' most favored cryptocurrency exchange, Coinbase Global (NASDAQ:COIN), witnessed a massive outflow of digital currency on October 18, as per data provider CryptoQuant. About 48,000 bitcoins (BTC-USD) valued at $940 million were withdrawn from Coinbase Pro yesterday. Following the news, COIN stock fell 4.3% to close at $66.21. The outflow marked the largest since June 2022 and the second biggest in crypto’s history. The withdrawal suggests that investors are looking to accumulate digital assets in the wake of the persistent downfall in the crypto market. Notably, these outflows could have been conducted in over-the-counter trade and thus did not impact the prices of BTC.
