Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io

Roughly 10k BTC have left exchanges over the weekend.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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  • Roughly 10,000 Bitcoin were withdrawn from exchanges over the weekend.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
James Van Straten
Former Lead Analyst 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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