Gate.io Witnessed its Second Largest Bitcoin Withdrawal

• Bitcoin worth $120,000,000 has been withdrawn from Gate.io
• Crypto exchange Gate.ion recorded the second-largest withdrawal in history.

While the cryptocurrency community attempts many ways to recover the market, a  single entity withdrew more than $120 million in Bitcoin (BTC) from a centralized exchange Gate.io on February 4, 2023. According to whale tracker Mr.Whale, this is the second-highest withdrawal in the Gate.io exchange’s history. And currently, the crypto exchange has 7,000 BTC remaining on the market.

Additionally, 2.24 million Bitcoins are currently available on the exchanges, which is the lowest level in the previous five years. Over the weekend, almost 10,000 BTC were taken out from the exchanges, as per a leading news site report. 

Bitcoin Active Addresses Increased

After a prolonged bearish trend, the largest cryptocurrency Bitcoin, and the global crypto market have been bullish since the start of 2023. The overall global market cap was $1.1 trillion and BTC has a market cap of $442 billion, which has 40% of market dominance. 

At the time of writing, Bitcoin traded at $22,931 with a 24-hour trading volume of $26 billion, surging over 33% in a day.  BTC price increased 35% in the last 30 days. But it’s down by 4% in the last week and 2% in just one day. 

However, according to Glassnode, the number of Bitcoin addresses holding a 0.01+ balance has recently surpassed an all-time high of 11,514,589. And 11,514,357 was the previous ATH as of February 5, 2023. Further, BTC has a number of active addresses of over 805,332. Also, Bitcoin’s Fear & Greed Index entered the “Greedr” zone and the Index soared to 56 points.