Coinbase Sold $37 Million in Ethereum During Q4 2024
- Coinbase sold 12,652 Ethereum, valued at approximately $37 million, in Q4 2024.
- Standard Chartered reduced its Ethereum price target for 2025 from $10,000 to $4,000.
- The bank’s analyst claims Base network profits are repatriated through ETH sales.
- Earnings from Base reportedly account for about 80% of its revenue.
- Ethereum’s Decun upgrade reduced gas fees on layer-2 networks in March of last year.
An analyst from Standard Chartered reported that Coinbase proactively sold a significant amount of Ethereum in Q4 2024. This action is linked to the company’s strategy to manage profits from its layer-2 network, Base.
Source (2.6)https://decrypt.co/310637/standard-chartered-coinbase-proactively-sold-37-million-of-ethereum-in-q4?rand=52368
