This article is 3 years old. The information presented may be outdated.

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

Roughly, 64% of all Ethereum principal withdrawals have come from Kraken — amounting to almost 500,000 ETH.

James Van Straten
Author
James Van Straten
Published
Make preferred on

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 This amounts to 64.1% of the principal withdrawn (489,759) ETH.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  • The outstanding amount of ETH waiting for the full- exit (staked ETH waiting to be withdrawn) is 620,377 ETH, and 19,348 validators are waiting for the full exit.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)
Mentioned in this article
Ethereum Kraken Nansen
Analyst View profile
James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

Context

Related coverage

Switch categories to dive deeper or gain broader context.

Disclaimer

Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. For more information, see our company disclaimers.

Ethereum ETH (24h)
$2,187.90 +0.43%
Market Cap $264.06B
24H Volume $17.95B
In this article