In recent days, Kraken has seen an impressive outflow of over 49,100 BTC, the largest volume since 2017! In terms of USD, this is the largest outflow in the exchange's history, totaling an incredible $3.33 billion! 💰
And it wasn't just Bitcoin! Kraken also saw a massive outflow of 572,100 ETH, equivalent to $2.15 billion! 🔥
As a result, Kraken's Bitcoin reserves have dropped to the same level as in 2018, now holding 122,300 BTC. For Ethereum, this is the first time Kraken's reserves have fallen below 1 million units, a level not seen since early 2016.
According to some address screenings, the movement of these coins happened in a synchronized and rapid manner, which might indicate that these outflows were executed by Kraken itself for repositioning its reserves or as part of an institutional strategy.
These numbers demonstrate Kraken's significant impact and importance in the cryptocurrency market, highlighting the trust and massive movement of digital assets. Stay tuned for future trends and movements!
Written by joaowedson