According to @OnchainDataNerd, the cryptocurrency market saw significant movement with Amber Group depositing approximately 2.2 million $VIRTUAL tokens, equivalent to around $5.19 million, to the Gate exchange 9 hours ago. This substantial deposit has potentially influenced the market dynamics, given the size of the transfer. The transaction was conducted at a time when the market had seen a stable trading range, indicating a strategic move by Amber Group to possibly reposition its holdings or prepare for potential market shifts.

The trading implications of this deposit are notable as it suggests a potential liquidity event on Gate, a major player in the trading of $VIRTUAL. The deposit size might indicate Amber Group's anticipation of either a bullish sentiment or a need to liquidate assets. Shortly after this deposit, 2 hours ago, two significant market players, identified as whales, accumulated a total of 1.17 million $VIRTUAL from Gate, valued at approximately $3.03 million. This accumulation highlights a possible bullish sentiment among large investors, who may be expecting a rise in $VIRTUAL's price.

In terms of technical indicators, the on-chain data revealed an increase in trading volumes on Gate, reflecting higher than average activity in $VIRTUAL pairs. The market depth analysis indicated a strong buy-side interest, which could support further price increases if the buying pressure persists. The Relative Strength Index (RSI) hovered around 55, suggesting a neutral market with room for upward movement. Additionally, the Moving Average Convergence Divergence (MACD) showed a slight bullish crossover, which may signal impending positive momentum. These indicators, combined with the whale activities, suggest a potentially favorable trading outlook for $VIRTUAL in the short-term.