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

ETH

ETH/USDT

$2,498.59

+1.78%

$2,498.59

+1.78%

(24s)

24h Volume

$7,075,760,560.82

24h H/L

$2,523.97 / $2,450.00

Change: $73.97 (3.02%)

Long/Short

58.8%

Long: 58.8%Short: 41.3%

Funding Rate

+0.0012%

Longs pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$2,499.83

▲ 0.79%

Volume (24h): -

Resistance Levels

Resistance 3$2,855.08

Resistance 2$2,639.52

Resistance 1$2,500.47

Price$2,499.83

Support 1$2,449.71

Support 2$2,354.69

Support 3$2,190.20

Pivot (PP):$2,472.79

Trend:Uptrend

RSI (14):65.0

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.