New Wallet Withdraws $81.62 Million from Kraken in 2 Hours, Totaling $330 Million Over 3 Days.

A newly created wallet withdrew 17,591 ETH from Kraken, worth $81.62 million, in the past 2 hours. This is the second withdrawal of a newly created wallet from Kraken in the past 3 days, totaling 71,025 ETH or $330 million.

A newly created wallet withdrew 17,591 ETH from Kraken, worth approximately $81.62 million, in the past two hours. This withdrawal is the second notable transaction from a newly created wallet from Kraken in the past three days, totaling 71,025 ETH or $330 million [1].

The Ethereum Foundation-linked wallet, which sold 2,794.87 ETH worth $12.78 million earlier, is not connected to this recent activity. However, the scale of these withdrawals indicates significant market activity and potential strategic repositioning by large holders [2].

Market data shows that Ethereum was trading at $4,655 at press time, with 99% of holders in profit and large holders controlling 55% of the total supply. Exchange flows indicate consistent outflows during late July and early August, with notable inflows also recorded [3].

The recent withdrawals from Kraken suggest that large holders are actively repositioning their holdings. While the specific motivations behind these withdrawals are not clear, they could be part of broader market trends or strategic moves by institutional investors.

Bit Digital Inc., for instance, disclosed holding 120,000 ETH in its Q2 2025 report, signaling a long-term strategy in digital assets. The company's total revenue for the quarter was $25.7 million, with mining income dropping 58.8% to $6.6 million despite a $0.4 million staking profit [4].

The U.S. crackdown on Garantex, a Russian-operated cryptocurrency exchange, also reflects a broader focus on curbing illicit crypto flows. The Treasury Department and State Department have announced new measures targeting the exchange and its network, which officials say has processed billions for cybercriminals [5].

The recent Ethereum withdrawals and market trends highlight the active and dynamic nature of the cryptocurrency market. Investors and financial professionals should monitor these developments closely to understand potential impacts on market volatility and price movements.

References:
[1] https://cryptofrontnews.com/ethereum-foundation-linked-wallet-sells-5m-in-eth-at-4602/
[2] https://coinedition.com/us-crackdown-garantex-russian-crypto-exchange-bounty/
[3] https://www.ainvest.com/news/ethereum-news-today-bit-digital-holds-120-000-eth-staking-revenue-slumps-58-8-2508/
[4] https://www.ainvest.com/news/ethereum-news-today-bit-digital-holds-120-000-eth-staking-revenue-slumps-58-8-2508/
[5] https://coinedition.com/us-crackdown-garantex-russian-crypto-exchange-bounty/