Anonymous whale withdraws $10M in ETH from Kraken

An anonymous Ethereum whale wallet beginning with 0x8447 has just withdrawn 5,300 ETH worth about $10 million from Kraken, according to an Onchain Lens analysis. Exchange outflows are generally interpreted as more likely to signal holding rather than selling. Onchain Lens said the whale withdrew 357.1 ETH worth about $566,000 from Kraken last month and then staked 224 ETH. After the latest withdrawal, the wallet now holds 5,430 ETH worth about $10.25 million, and the transfer may also be intended for staking. According to CoinMarketCap, ETH was trading at $1,872, down 0.43%, at the time of writing.