Ethereum

Regulatory forced Kraken exits make up the majority of ETH principal withdrawals

04/26/2023
Bitcoin Ethereum News

Quick Take

  • It has been two weeks since the Shappela upgrade, and Ethereum (ETH) had broken $2,000.

Staked ETH deposits have outpaced withdrawals over the past 24 hours. The results are below;

  • Deposits: 121,806 ETH
  • Withdrawals: 28,762 ETH
  • Net: 93,044 ETH
ETH Withdrawals + Deposits: (Source: Nansen)
ETH Withdrawals + Deposits: (Source: Nansen)

Withdrawals

  • However, most interestingly, ETH principal withdrawals (all-time) have come from Kraken — which was a regulatory forced exit. This amounts to 64.1% of the principal withdrawn (489,759) ETH.
  • While the all-time withdrawal, including rewards, is again spearheaded by Kraken 598,815 ETH — a total of 35.3%.
  • The outstanding amount of ETH waiting for the full- exit (staked ETH waiting to be withdrawn) is 620,377 ETH, and 19,348 validators are waiting for the full exit.
ETH Withdrawals: (Source: Nansen)
ETH Withdrawals: (Source: Nansen)
ETH Withdrawals: (Source: Nansen)
ETH Withdrawals: (Source: Nansen)

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Source: https://cryptoslate.com/insights/regulatory-forced-kraken-exits-make-up-the-majority-of-eth-principal-withdrawals/