0xNox · 2026-10-06 13:20 UTC

20M BTW just moved from Bitget to Gate. That's more than a full day of its trading volume. At 10:45 UTC, 20M $BTW ($23.4M) left Bitget's hot wallet for a Gate deposit address. Gate's hot wallet now holds 21.3M BTW, about $25M. I read that balance straight from the chain. For scale: BTW trades about $16.5M a day, so this one transfer is 1.4 days of volume, now sitting on a single exchange. The futures side is split. About two thirds of accounts are short (L/S 0.49), while top traders lean long (2.21), and open interest is $96M. If the 21.3M moves on to Gate's cold wallet, it's custody. If it stays in the hot wallet, it's supply ready to sell on Gate's book. If it drains out to many addresses, it's being withdrawn.

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