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Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io James Van Straten · 4 months ago
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Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io

Roughly 10k BTC have left exchanges over the weekend.

James Van Straten / Feb. 5, 2023 at 11:20 pm UTC

Quick Take

  • On Feb. 4, a single entity withdrew over $120M in Bitcoin from Gate.io, the second largest withdrawal in the exchange’s history.
  • Roughly 10,000 Bitcoin were withdrawn from exchanges over the weekend.
  • Currently, 2.24M Bitcoin sitting are on exchanges, the lowest level in the past five years.
  • Gate.io has 7,000 BTC left on the exchange.
Balance on exchange: (Source: Glassnode)
Balance on exchange: (Source: Glassnode)
Net transfer volume by size: (Source: Glassnode)
Net transfer volume by size: (Source: Glassnode)
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James Van Straten
Research Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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