Ethereum
Kraken Witnesses Biggest BTC and ETH Outflows Since 2017
Kraken saw an outflow of over 49,100 BTC, the largest since 2017. In terms of US dollars, this is the largest outflow in the history of the exchange, totaling $3.33 billion. It also saw a massive outflow of 572,100 ETH, the equivalent of $2.15 billion! Kraken’s BTC reserves have fallen to 2018 levels, holding 122,300 BTC. For Ethereum, Kraken’s reserves have fallen below one million units. The synchronized and rapid movements of the coins could indicate that these exits were executed by Kraken itself to reposition its reserves or as part of an institutional strategy.