Coinbase Poised for Growth as $143M ETH Wallet Signals Institutional Confidence

A newly created multisig wallet has received 33,000 ETH ($143 million) from a BitGo hot wallet, sparking speculation about institutional interest in Ethereum. Bernstein analysts view this as a bullish signal for Coinbase, suggesting potential altcoin rally momentum.

New $143M ETH Wallet Sparks Institutional Interest as Bernstein Favors Coinbase in Potential Rally

A freshly created multisig wallet received 33,000 ETH ($143 million) from a BitGo hot wallet on August 11, according to blockchain analytics platform Nansen. The transaction, executed in a single move, suggests deliberate institutional positioning rather than routine fund management.

Bernstein analysts interpret such large-scale movements as precursors to Ethereum's altcoin rally, with Coinbase poised to capture disproportionate gains. The unknown entity's use of a multisig wallet—typically employed by institutions or high-net-worth individuals—signals renewed capital inflows into ETH markets.

Market observers note these transactions often precede volatility events. With Ethereum's network activity increasing, the transfer aligns with growing institutional adoption narratives despite the sender's anonymity.

Blue Origin Accepts Crypto for Space Tourism

Jeff Bezos' space exploration company, Blue Origin, now accepts cryptocurrency payments for commercial spaceflights through a partnership with Shift4 Payments. The initiative supports major digital assets including Bitcoin (BTC), Ether (ETH), and Solana (SOL), alongside stablecoins like USDT and USDC. Integration with wallets such as Coinbase and MetaMask streamlines transactions.

"We're revolutionizing commerce by simplifying payments—even beyond Earth," said Shift4 CEO Taylor Lauber. The $150,000 deposit requirement positions the offering for high-net-worth individuals, exemplified by TRON founder Justin Sun's $28 million auction win for a recent flight.

ATOM Price Faces Pressure at $4.53 as Cosmos Shows Mixed Technical Signals

ATOM trades at $4.53, down 2.54% amid volatile market conditions, as technical indicators present conflicting signals. The Relative Strength Index (RSI) sits neutrally at 50.73, while the Moving Average Convergence Divergence (MACD) histogram flashes bullish momentum.

Coinbase's integration of dYdX on the Cosmos network has emerged as a key catalyst, driving institutional interest and validating the blockchain's interoperability features. This development initially propelled ATOM's price by 3.4% to $4.41 on August 7th, though gains have since moderated.

The token demonstrated notable resilience earlier in the week, rebounding sharply from a sudden drop to $4.13 on August 6th. Trading volume surged as market participants reacted to Coinbase's announcement of adding COSMOSDYDX to its listing roadmap, providing fundamental support during the recovery.

Coinbase Set to Profit Big from Ethereum Price Rally: Bernstein Analysts

Ethereum's recent surge to near-record highs has positioned Coinbase as a primary beneficiary, according to Bernstein analysts. The crypto exchange's extensive involvement in the ethereum ecosystem, including its Base layer-2 chain, drives significant revenue streams.

Base processes over 9 million daily transactions, generating an estimated $75 million annually in ETH-denominated fees. The platform's integration with Coinbase's new app simplifies crypto transactions, further solidifying its market dominance.

Since June 5, Ethereum has climbed approximately 80%, fueled by Circle's market debut and expanding stablecoin adoption. The asset recently breached the $4,000 threshold for the first time in eight months.

Norway’s Sovereign Wealth Fund Expands Bitcoin Holdings by 192% in 2025

Norway’s sovereign wealth fund, Norges Bank Investment Management (NBIM), has aggressively increased its indirect Bitcoin exposure, reaching 7,161 BTC—a 192% surge from its 2024 holdings. The $844 million position reflects growing institutional confidence in cryptocurrency as a treasury asset.

Analyst Vetle Lunde attributes the growth to concentrated investments in corporate bitcoin vehicles. Strategy (formerly MicroStrategy) led the expansion, contributing 3,005.5 BTC. Marathon Digital, Block, Coinbase, and Metaplanet collectively added 409.5 BTC, while smaller positions from Tesla and others completed the portfolio.

The MOVE signals accelerating institutional adoption, with public companies serving as proxies for direct crypto exposure. Norway’s strategy mirrors broader trends of nation-states and corporations accumulating Bitcoin through regulated investment channels.

EigenLayer (EIGEN) Price Drops 4.6% Amid Conflicting Market Signals

EigenLayer's EIGEN token fell 4.59% to $1.33 despite bullish developments, as security concerns overshadowed exchange listing progress. The drop reflects market tension between institutional adoption and operational risks.

Coinbase's August 6 roadmap inclusion signaled growing mainstream acceptance, initially boosting EIGEN by 9%. This Optimism was undercut by revelations of a $5.5 million unauthorized token sale investigation disclosed on August 8, highlighting persistent security vulnerabilities in decentralized protocols.

Technical indicators present mixed signals - the RSI at neutral 52.75 suggests equilibrium, while a bullish MACD histogram hints at potential upside. The Caldera partnership for EigenDA V2 integration demonstrates continued ecosystem development, though such fundamentals are currently being discounted by the market.