Coinbase reserves in Bitcoin, Ethereum, and stablecoins have hit $112 billion, marking a potential bullish season.
American cryptocurrency exchange Coinbase Global Inc. is celebrating a milestone as its Bitcoin BTC $70 709 24h volatility: 0.4% Market cap: $1.41 T Vol. 24h: $34.58 B and Ethereum ETH $2 156 24h volatility: 0.0% Market cap: $260.05 B Vol. 24h: $14.48 B reserve hits $112 billion.
According to blockchain analytics platform CryptoQuant, this is the highest level that the publicly-listed company has recorded in the last 4 years.
Incoming Bullish Season?
In a September 19 post on X, CryptoQuant announced that the Coinbase reserve has reached $112 billion in BTC, ETH, and even stablecoins.
This level was last seen around November 2021, just before the digital asset ecosystem was hit by a harsh bear season. This new development raises speculations about an incoming bullish season.
Coinbase Reserves Hit $112B in BTC, ETH & Stablecoins — Highest in 4 Years
“In past cycles, rising reserves on major exchanges like Coinbase have often coincided with higher market liquidity and bullish price momentum.” – By @CryptoOnchain pic.twitter.com/64VDXP51i5
— CryptoQuant.com (@cryptoquant_com) September 19, 2025
Analyst CryptoOnChain is positive about the growth, noting that it reflects renewed capital inflows into Coinbase.
They also see this as a sign of increasing confidence from both institutional and retail investors, suggesting that the recovery of reserves could signal a new phase for the crypto market.
This is likely a phase characterized by strong demand and accumulation of major crypto assets like BTC, ETH, SOL SOL $90.04 24h volatility: 0.5% Market cap: $51.47 B Vol. 24h: $2.67 B , and stablecoins among many others. For example, Ethereum whales have added millions of ETH since April, driving significant price growth.
“In past cycles, rising reserves on major exchanges like Coinbase have often coincided with higher market liquidity and bullish price momentum,” CryptoOnChain wrote on CryptoQuant.
Several other analysts resonated with this stance, as they confirmed that reaching this four-year high could be a show of sustained market strength. It could usher in the next major move for the crypto industry.
Coinbase to Support Open Intents Framework
While Coinbase celebrates its reserve milestone, it is working on extending its footprint in the crypto ecosystem.
According to an announcement, Coinbase Payments is now a core contributor to the Open Intents Framework (OIF). This is a new initiative aimed at building open standards for secure asset movement across blockchain networks.
This move is targeted at addressing the fragmented user experience that lies within the current multi-chain environment. Here, users are known to often manage assets across networks like Ethereum and Base.
With OIF, there is going to be a stronger collaboration with Hyperlane, Across Protocol ACX $0.0432 24h volatility: 2.3% Market cap: $30.34 M Vol. 24h: $3.12 M , and OpenZeppelin.
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