$19.5M Ethereum Withdrawal Fuels Market Rally Amid Whales' Interest in ChainSpin

A $19.5 million Ethereum withdrawal from Kraken has sparked a rally in the cryptocurrency market.

The large holder withdrew 10,300 ETH worth approximately $19.5 million within 24 hours, with part of those holdings subsequently moved into staking.

This comes as Ethereum rebounds and large holders continue positioning around the market's second-largest cryptocurrency.

ChainSpin, a project still in its early stages, is also attracting attention from whales.

The token costs $0.0125 in Stage 1 of 12, with prices scheduled to increase throughout the presale, and has already seen over $100,000 sold within hours, pushing Stage 1 to 25% sold.