Whale Withdraws 1,687 ETH from Gate.io: A $4.2 Million Move in an Accumulation Strategy

ETH

ETH/USDT

$2,113.64

-7.22%

$2,113.64

-7.22%

(24s)

24h Volume

$37,939,871,804.04

24h H/L

$2,293.99 / $2,068.20

Change: $225.79 (10.92%)

Long/Short

79.4%

Long: 79.4%Short: 20.6%

Funding Rate

+0.0040%

Longs pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$2,087.22

▼ -2.84%

Volume (24h): -

Resistance Levels

Resistance 3$2,820.15

Resistance 2$2,294.17

Resistance 1$2,149.26

Price$2,087.22

Support 1$2,068.20

Support 2$1,940.12

Support 3$1,532.78

Pivot (PP):$2,109.73

Trend:Downtrend

RSI (14):22.5

COINOTAG News reports that on May 12th, scrutiny from LookIntoChain has revealed a significant movement of Ethereum (ETH) by a prominent whale address. This address has recently executed a withdrawal of 1,687 ETH from Gate.io, valued at approximately $4.2 million. Over the past three months, this whale has strategically liquidated a total of 50,165 ETH, amounting to around $104.5 million. Remarkably, during this period, the price of ETH hovered around $2,084, enabling the entity to transform a paper loss of $21 million into a paper profit of $21.7 million. Such activities by large holders underscore the potential for market volatility and serve as a critical signal in monitoring crypto market dynamics.