According to ZachXBT, all Gate.io withdrawals were consolidated into a single Ethereum address (0x4f9051a58b416eaa0216081d7030679f17e9b069) before being split into two parts. Notably, a portion of these funds was quickly cashed out using Remitano, a popular peer-to-peer (P2P) crypto platform (source: ZachXBT, Twitter, May 9, 2025). This movement highlights increased risks of rapid fund off-ramping following exchange withdrawals, which is significant for traders monitoring potential illicit flows and market liquidity pressure. The pattern may influence short-term volatility as large sums move off centralized exchanges and into less traceable channels.

According to ZachXBT, a timing analysis has uncovered matching Gate.io withdrawals occurring shortly after related deposits. This finding is substantiated by on-chain evidence, as one address, 0x5e72520038ec800986a9f1021fe2b8e3cd298c8d, was accidentally linked between deposit and withdrawal transactions (source: ZachXBT, Twitter, May 9, 2025). This transparent link offers traders actionable insight into fund movements on Gate.io, underlining the importance of monitoring wallet activity for potential trading risks and opportunities in the cryptocurrency market.

According to Lookonchain, major Ethereum whales are actively accumulating ETH. Wallet 0xd81E has withdrawn 1,900 ETH (worth $3.1 million) from Gate.io, with a total of 48,477 ETH ($100.35 million) since February 15, despite a $21 million loss. Concurrently, wallet 0x3bd2 withdrew 2,600 ETH ($4.26 million) from Binance, highlighting continued whale interest in Ethereum.