Ethereum Whale Withdraws $9.98M from Kraken Amid ETF Outflows and Scaling Plans

A major Ethereum whale withdrew $9.98 million in ETH from Kraken over the past day, according to on-chain analytics data.

The wallet, 0x8447A06F34e251ABeb55A0B7d5e01554F5072E0D, now holds approximately $10.25 million worth of ETH and has already staked 224 tokens.

This move is seen as a likely accumulation step, with analysts suggesting that large exchange withdrawals often signal intent to hold rather than sell.

The timing of this withdrawal contrasts with recent fund outflow data, which shows that spot ETFs recorded a net outflow of $2.26 million during the trading week of August 10-14.