Ethereum Whale Withdraws $10M From Kraken Amid Growing Preference for Self-Custody

A significant Ethereum transaction has occurred as an anonymous cryptocurrency whale withdrew $9.98 million in Ether (ETH) from Kraken, according to on-chain analytics firm Hupzy.

The whale transferred 5,300 ETH to a private wallet, a pattern often associated with long-term holding rather than immediate selling.

This move is part of a broader trend of increased exchange outflows for Ethereum in recent weeks, reflecting a growing preference among large holders to retain their assets in self-custody.