Massive Kraken ETH Withdrawals Surge to Over 32,000 ETH Worth $90M in 9 Hours

On July 10, on-chain analyst Yu Jin identified a significant withdrawal of 6,998 ETH from Kraken, equating to roughly $19.35 million. This transaction is part of a broader trend, with a cumulative 32,566 ETH withdrawn over the last nine hours, totaling approximately $90.16 million. Prior reports from COINOTAG highlighted an earlier withdrawal of 25,567 ETH valued at $70.66 million within an eight-hour window. These sizable outflows from Kraken underscore notable liquidity movements within the Ethereum market, reflecting shifts in investor positioning and potential portfolio reallocations. Monitoring such large-scale transfers is crucial for market participants seeking to understand underlying trends and anticipate liquidity impacts on price dynamics.