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New Ethereum Whale Withdraws $20 Million in ETH from Kraken

On-chain data reveals a newly created address moved over 13,500 ETH worth about $60 million from Kraken within two days, currently holding a small unrealized loss.

ETH

Fact Check
The evidence directly confirms the statement. Source 12 explicitly reports a 'New Address' withdrawing 4,492 ETH from Kraken, valued at approximately '$20.01 million'. Multiple other sources corroborate this event, mentioning a pattern of large withdrawals from Kraken in chunks of '$10 million or $20 million' by new whale addresses.
    Reference: 123
Summary

Between August 16 and 17, a newly created Ethereum address withdrew a total of 13,538.6 ETH from Kraken, valued at approximately $60.06 million. On August 17 alone, the address accumulated 9,046.23 ETH worth $40.05 million in 17 hours. The average withdrawal price was $4,436 per ETH, with current valuations showing an unrealized loss of $255,000. This activity aligns with large-scale whale accumulation patterns identified through on-chain analysis.

Terms & Concepts
  • ETH (Ethereum): A blockchain-based cryptocurrency and platform for decentralized applications, with ETH serving as its native token.
  • On-chain Analysis: The process of examining blockchain transaction data to derive insights about market behavior and wallet activity.
  • Kraken: A U.S.-based cryptocurrency exchange offering trading for various digital assets, including Ethereum.