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Metalpha Withdraws 8,500 ETH Worth $24.85 Million from Major Exchanges

On January 23, Metalpha withdrew Ethereum holdings from Kraken and Binance, marking a notable transaction according to Onchain Lens.

ETH

Summary

Metalpha crypto asset management firm withdrew 8,500 ETH, valued at $24.85 million, from Kraken and Binance on January 23, 2026. The blockchain analytics firm Onchain Lens reported the withdrawal but did not provide further details on the reason or future plans for the funds.

Terms & Concepts
  • ETH (Ethereum): A blockchain-based cryptocurrency used for transactions, decentralized applications, and smart contracts (self-executing blockchain code).
  • Kraken: A U.S.-based cryptocurrency exchange offering trading, staking, and related digital asset services.
  • Binance: A global cryptocurrency exchange providing trading and various blockchain ecosystem services.