Ethereum Whale Pulls 10,076 ETH From Kraken Worth $40M
An on-chain analysis by blockchain researcher Yu Jin shows that a significant Ethereum whale address (0xD47…) withdrew 10,076 ETH (approximately $40.38 million) from Kraken six hours ago. The same address has accumulated a total of 49,928 ETH since July 19, currently valued at around $200 million, with an average entry price of $3,720 per ETH. Such major ETH withdrawals from centralized exchanges like Kraken often indicate a shift in liquidity or bullish positioning, potentially impacting market supply and price momentum. Crypto traders should watch Ethereum on-chain flows and Kraken’s ETH reserves for emerging trends and trading signals.
Bullish
A withdrawal of over 10,000 ETH by a single whale reduces exchange-held supply, historically a bullish signal for Ethereum as it limits immediate sell pressure. Large outflows often indicate accumulation or transfer to cold storage, reflecting confidence in long-term upside. Similar past events—such as major ETH withdrawals in early 2024—preceded notable price rallies. In the short term, this could tighten ETH liquidity on Kraken and trigger upward price momentum. Over the longer term, sustained outflows may support a bullish market structure, though broader macro and on-chain metrics should also be monitored.