Over the past week, $SAFE has experienced a notable 15% price surge, attracting significant attention from major players in the crypto market. Among them, Wallet 0x011, likely associated with Amber Group, has been particularly active. 

Recently, this wallet withdrew 499,995 SAFE, valued at approximately $1.09 million, from Gate.io at a price of $2.188 per token.

In total, Amber Group has reportedly withdrawn 1.077 million SAFE from both Gate.io and Bybit at an average price of $2.204, amounting to an estimated cost of $2.37 million within the last two hours alone. 

This aggressive accumulation has increased Amber Group’s total holdings since April 27, 2024, to an impressive 5.19 million SAFE. The estimated total cost for these holdings is around $11.09 million, with an average purchase price of $2.135 per token.

Wallet 0x011 (likely @ambergroup_io) further withdrew 1.08M $SAFE ($2.37M) from CEX in the past 3 hours.

Since Apr 27, Amber Group has allegedly withdrawn 5.19M $SAFE ($11.09M) from #Bybit and #Gate.io at an avg price of $2.135!

And currently holds these tokens across 2 wallets… https://t.co/R6OoYt7UCx pic.twitter.com/K3Lpdcm0qi

— Spot On Chain (@spotonchain) May 20, 2024

Amber Group Now Holds 5.19 Million SAFE Tokens

Currently, Amber Group holds these 5.19 million SAFE tokens, now valued at approximately $11.37 million, across two wallets: 0x011 and 0x63f. This strategic accumulation has resulted in an unrealized profit of approximately $284,000, representing a 2.57% gain.

Amber Group’s continued investment in $SAFE amidst its recent price surge highlights their confidence in the token’s potential. Their systematic accumulation suggests a long-term bullish outlook, as they maintain substantial holdings and show no immediate signs of liquidation.

The steady rise in $SAFE’s value, coupled with the significant investment from a prominent venture capital firm like Amber Group, could indicate further positive momentum for the token in the near future.

As the market continues to monitor these developments, Amber Group’s actions will likely be seen as a strong endorsement of $SAFE’s potential, encouraging other investors to follow suit.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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