Crypto exchange Kraken experienced significant Ethereum outflows today, with 32,566 ETH worth approximately $90.16 million withdrawn within a concentrated nine-hour window. The movement began when on-chain analyst Yu Jin observed an initial transfer of 6,998 ETH ($19.35 million) from the platform.
This substantial withdrawal follows a larger trend, as prior reports indicated Kraken processed 25,567 ETH ($70.66 million) in outflows during an earlier eight-hour period. Combined, these consecutive capital movements represent a major liquidity shift from the exchange that could influence Ethereum’s market dynamics and price stability.
The scale and speed of the withdrawals highlight heightened activity among large holders, potentially signaling changing investor strategies or preparations for upcoming market movements. Analysts are closely monitoring how this substantial reduction in exchange-held Ethereum supply may impact near-term trading conditions.