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

Roughly 10k BTC have left exchanges over the weekend.

Former Lead Analyst CryptoSlate

Published Feb. 5, 2023 at 11:20 pm GMT

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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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Roughly 10,000 Bitcoin were withdrawn from exchanges over the weekend.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)

Net transfer volume by size: (Source: Glassnode)

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

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

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