Kraken Accounts for 86.6% of Total Amount of ETH Waiting to Be Withdrawn from Staking

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After the successful activation of Shapella’s EIP-4895, allowing for the withdrawal of funds from staking, the queue for withdrawing ETH from the deposit contract has grown to 890,980 ETH ($1.78 billion).

Reportedly, Kraken accounts for 86.6% of this total amount, as estimated by Nansen, which is higher than their own figure of 66.6%.

On February 10, 2023, Kraken was fined $30 million and was obligated to close the staking program following claims by the SEC for lack of proper registration.

At the moment, the daily withdrawal rate was 84,092 ETH, according to Nansen. From 14:00 to 15:00 CET, 27,008 ETH were sent to staking, representing 25.9% of the net reduction in the balance of stakers in the previous 14 hours.