A 257-day-old wallet delivers $102.64M in USDC to Coinbase as exchange inflows swamp outflows

The single largest on-chain move right now is a cash deposit, not a risk-on deployment. A dormant-adjacent wallet just staged nine figures of dry powder on Coinbase.

The trigger wallet, 0xc3f2…1ca7, sent $102.64M USDC directly to a labelled Coinbase venue. Its first observed activity was only 257 days ago and its recent outgoing footprint reached exchange wallets in one hop, but that historical route is separate from the trigger funds.

The transfer lands in a 24-hour window where USDC exchange flow is heavily imbalanced: $881.92M entered versus $400.14M that left, across over ten thousand transfers. The wallet split the funds across many addresses on arrival, a pattern consistent with large-scale capital organisation rather than a single immediate trade.