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

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.