Early Ethereum Holders Transfer Millions to Kraken Despite Four-Month Exchange Outflow High

Large early Ethereum holders are transferring tokens to centralized exchange Kraken even as aggregate exchange balances experience heavy withdrawals. Tracked exchanges recorded 169,770 ETH in net outflows on October 22, marking a four-month high surpassed only by a 223,800 ETH outflow on June 5. However, individual whale deposits introduced localized selling pressure. Two early wallets sent a combined 4,000 ETH to Kraken across October 22 and 23, including 3,000 ETH worth $7.23 million and 1,000 ETH from an ICO participant. Separately, another early whale transferred 1,000 ETH valued at $2.4 million.