A 2‑year‑old wallet routes $30.87M USDC onto Coinbase as exchange stablecoin inflows dominate

The single largest on‑chain move in the last 6 hours is not a sell‑off but a dry‑powder reload by a wallet that has previously dealt with Coinbase and Binance.

The trigger transaction deposited $30.87M USDC onto Coinbase from wallet 0x2d06…727c. This is not an isolated event: the wallet is 717 days old and its recent outgoing activity reached exchange wallets in a single hop, though that historical route is separate from the trigger funds.

The broader 24‑hour USDC exchange flow supports a deployment narrative, with $814.81M entering exchanges versus $437.53M leaving, across 10,450 transfers. The funds were split across many wallets at once, which is consistent with a large participant staging capital rather than a simple single‑destination sweep.