A significant cryptocurrency entity, commonly referred to as a ‘whale’, has executed a substantial withdrawal involving 46,954 Ethereum (ETH) worth approximately $126.5 million from the Kraken exchange.
This large-scale movement occurred over a concentrated 12-hour period. During this timeframe, the whale initiated two major transactions.
The first saw 21,387 ETH, valued at $59.24 million, transferred out of Kraken. This was followed by withdrawals totaling the full 46,954 ETH, representing the massive outflow in a short window.
This activity is indicative of a broader, ongoing pattern observed with this particular whale. Recent periods have seen consistent and significant Ethereum withdrawals from centralized exchanges, suggesting a possible strategy focused on accumulation or off-exchange positioning.
The scale of this withdrawal highlights the capability of large holders to move major portions of assets rapidly, potentially signaling shifts in holder sentiment or strategy regarding Ethereum.