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Bitcoin traders often treat old-coin movement as a sign that long-term holders are waking up. Coinbase’s $69.5 billion BTC migration suggests that signal may be less reliable than it looks.
The value of the tokens surged by more than 10% after the exchange announced the move.
Young Americans between the age of 18 and 40 are increasingly turning to crypto amid deep dissatisfaction with the current financial system.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
