The recent price developments have not deterred institutional investors from allocating funds in bitcoin. Just the opposite, the latest major withdrawal from Coinbase to custody wallets worth $630 million became a fact earlier today, suggesting that institutions keep accumulating.

Institutions Double-Down on BTC

CryptoQuant’s CEO Ki Young Ju has repeatedly outlined the connection between bitcoin’s price and institutions using the largest US-based crypto exchange, Coinbase, to purchase more of the asset.

Past examples provided by the analytics company have indeed been followed by an increase in BTC’s value when such investors transferred sizeable quantities to custody addresses.

Ju predicted last week when BTC struggled beneath $45,000 that the asset will soon rather than later return above $48,000, which he classified as the “institutional buying level.”

His projection materialized, and the cryptocurrency has even increased above $50,000. Furthermore, Ju outlined that institutional investors have withdrawn another significant portion from Coinbase to custody wallets.

CryptoQuant’s data suggests that the withdrawal this time was about 12,400 bitcoins. From a USD perspective, this considerable about accounts for roughly $632 million with today’s prices.

It’s Not Just Coinbase Though

During last week’s market crash, when BTC lost about 25% of its value in a matter of days, reports emerged that miners have transferred substantial portions to exchanges and had cashed out some profits just before the drops.

The community feared that institutional and retail investors might follow as it could be the beginning of further sales that could harm the asset’s price even more. However, it seems that this is not the case.

Data from another monitoring company, Glassnode, shows that bitcoin holders had indeed increased the transfers to exchanges in the last week or so in February. Nevertheless, the trend has quickly reversed, and BTC investors have withdrawn some of their portions outside of trading venues.

Looking at the bigger picture, it becomes clear that investors seem determined to decrease the bitcoin holdings stored on exchanges. In the past six months alone, the percentage of BTC on trading platforms has declined from over 14.5% to 12.5%, suggesting HODLing mentality.

The popular blockchain project TRON will introduce the DLT-agnostic prediction market Prosper to its ecosystem. TRON users and TRX holders will be able to provide liquidity and enhance the success-rate of the prediction market solution.

TRON Teams Up With Prosper

Justin Sun’s TRON announced its latest partnership in a press release shared with CryptoPotato earlier today. It informed that the two blockchain projects have teamed up to address some of the issues related to decentralized prediction markets.

Such tools have been active for a while, but the statement highlighted the lack of sufficient liquidity as a major hurdle on their way to receive mass adoption. This comes mostly because each prediction market “has traditionally been segregated to a single chain,” and not enough users could provide the necessary liquidity to produce accurate predictions.

Prosper works similarly – the higher the liquidity is, meaning more users are involved, the more “predictions are made, leading to a more accurate and robust prediction outcome based on greater collective insight from the crowd.”

Furthermore, Prosper operates a cross-chain platform, which enables it to aggregate liquidity into its platform regardless of the user’s access point.

With the introduction of TRX, one of the largest digital assets by market cap, TRON and Prosper expect a surge in the liquidity to the underlying pool. Additionally, the integration will enable users to receive access to new applications that could impact their investment strategies and potential earnings.

The statement also touched upon a free insurance pool provided by Prosper. It allows the platform to repay any funds stolen from hacks from an emergency fund that is automatically set aside.

This partnership with TRON is an extension of Prosper’s efforts to collaborate with the biggest players of the DeFi world.” – said Iva Wisher, co-founder of Prosper.

TRON Aims at Ethereum

The announcement further explained that TRON is currently “working to create a competing DeFi ecosystem that rivals its counterparts while allowing for inexpensive transactions, creating a win-win situation for platform users.”

The PR outlined Ethereum’s major role in the space but touched upon its scaling issues, which have caused significant transaction delays and high gas costs.