Kraken redeemed 50,600 ETH worth about $107 million from EigenCloud 11 hours ago, according to the provided information. The move occurred during a broader contraction in the restaking (reusing staked assets for added yield) market, where total value locked, or TVL (assets deposited in a protocol), fell from $31 billion last August to $11 billion. EigenCloud’s TVL also declined sharply, dropping from $22 billion to $5.5 billion. These figures point to a major reduction in capital committed to restaking platforms, a crypto segment built around deploying already-staked assets into additional services or protocols.