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Significant Demand on Coinbase Since The Start of 2024
There is something important going on at Coinbase. Since the beginning of the new year, the Coinbase Premium Gap, an indicator highlighting the disparity between Bitcoin prices on Binance and Coinbase, has consistently traded at a premium. This premium fluctuates, ranging from a few dollars to exceeding $50, underscoring robust buying activity. It's widely recognized that Coinbase is a preferred platform for U.S. institutional investors. This has sparked speculation about whether MicroStrategy is acquiring additional Bitcoin or if these purchases are part of preparations for an ETF approval. We should have more clarity soon, as the ETF decision date is rapidly approaching.