Ethereum Wallet Withdraws $10M from Kraken, Consolidation Ahead
Ethereum has seen another significant withdrawal from Kraken, this time totaling $9.98 million in ETH. This follows last month's smaller withdrawal of 357.1 ETH and a separate stake of 224 ETH at an address.
The wallet that made the latest withdrawal now holds approximately $10.25 million in ETH, with 224 ETH already staked at 0x8447A06F34e251ABeb55A0B7d5e01554F5072E0D.
The current price of ETH is within its Bollinger bands, with the EMA50 acting as immediate resistance and the EMA200 offering support. The RSI is neutral at 44.12, while the MACD shows a bullish golden cross at -2.23 points, indicating consolidation near the lower band.
The recent large exchange withdrawals to staking contracts may have an impact on network supply and yields, according to the data.