A post by @whale_alert on X.

A wallet labeled as belonging to Coinbase Institutional moved 44,262 ETH, valued at roughly $89.5 million, to a newly created unknown address on Ethereum, according to on-chain tracker Whale Alert. The transfer, flagged in a single transaction, ranks among the larger exchange outflows tracked recently and shifts a nine-figure sum out of a custodial venue into a fresh wallet with no prior history. Because the destination is unlabeled, the move is being read as a potential accumulation or cold-storage rotation rather than an immediate sale. Traders will watch whether the new address consolidates further inflows, transfers to another exchange, or remains dormant, since follow-on activity would clarify whether the ETH is being held or staged for liquidity.