• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Record Outflow of BTC and ETH from Kraken Exchange

Record Outflow of BTC and ETH from Kraken Exchange

user avatar

by Eve Adams

a year ago


The Kraken exchange has recorded the largest outflow of bitcoins (BTC) since 2017. According to CryptoQuant, over the past few days, more than 49.1 thousand BTC have been withdrawn from the platform, the highest amount in the last 7 years. In dollar terms, this outflow reached a record $3.33 billion.

However, the outflow was not limited to bitcoins. Kraken also registered a significant outflow of 572.1 thousand ETH, equivalent to $2.15 billion. As a result, bitcoin reserves on the exchange fell to the 2018 level, totaling 122.3 thousand BTC. Ethereum reserves fell below 1 million ETH for the first time since early 2016, when the cryptocurrency was newly launched on the market.

An analysis of the coin movements showed that the transactions were synchronized and rapid, which may indicate deliberate actions by Kraken's management to redistribute reserves or as part of an institutional strategy. However, exchange representatives have not yet confirmed these assumptions. Analysts believe that these figures underscore Kraken's influence and significance in the cryptocurrency market.

Various analysts agree that the large outflows of bitcoins and ethereums from Kraken may indicate several important trends in the cryptocurrency world. This may suggest a change in strategy by institutional investors or the exchange's management, and could be part of efforts to redistribute reserves to enhance liquidity, secure assets, or fulfill other strategic goals.

On the other hand, this may reflect growing concerns among traders and investors about the security of funds on the platform. In light of recent hacking and fraud incidents on other exchanges, clients might have decided to move their cryptocurrencies to more secure wallets.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Significant Bitcoin Price Surge and Vanguard's New Investment

chest

Bitcoin hits record high at $122,838, while Vanguard acquires stake in a company holding 601,550 BTC.

user avatarGiorgi Kostiuk

Ripple, Circle, and BitGo Seek Trust Bank Licenses in the U.S.

chest

Ripple, Circle, and BitGo have applied for trust bank licenses in the U.S. to expand their banking operations.

user avatarGiorgi Kostiuk

BTCS Makes Strategic Ethereum Purchase Worth $62.4 Million

chest

BTCS Inc. significantly boosts its Ethereum reserves, highlighting confidence in cryptocurrency's future.

user avatarGiorgi Kostiuk

Ruvi AI (RUVI): Technology Changing the Cryptocurrency Market

chest

Ruvi AI is a blockchain platform using AI for real applications in marketing, finance, and entertainment.

user avatarGiorgi Kostiuk

Meta Executives Face Shareholders in Data Privacy Lawsuit

chest

Meta is confronting shareholders in court over allegations of mishandling privacy rules.

user avatarGiorgi Kostiuk

New Open-Source AI Model Kimi K2: A Competitor to OpenAI and Claude Opus

chest

Moonshot AI has introduced its new open-source AI model Kimi K2, claiming it outperforms popular models on several metrics.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.