The address had withdrawn 4,819 ETH at $1,941.25 on February 8, and a sale of the latest transfer would lock in a roughly $20,000 loss after unrealized losses once reached $1.8 million.
A previously dormant Ethereum whale has transferred 1,200 ETH to Gate, a move that could crystallize an estimated $20,000 loss if the tokens are sold. The transaction follows the address’s reactivation in March 2024 after two years of inactivity and comes after it withdrew 4,819 ETH worth $9.35 million at $1,941.25 on February 8, according to Odaily, citing on-chain analyst Ai Yi. The account had at one point been sitting on an unrealized loss of as much as $1.8 million, underscoring how older holders can use exchange deposits as a prelude to selling when market conditions shift.