New Wallet Receives $40.58M in ETH from Kraken, Linked to Bitmine

News Flash 2025-12-22 15:18

A newly created cryptocurrency wallet has received 13,412 ETH, valued at $40.58 million, from the exchange Kraken on December 22, according to Onchain Lens. The wallet is suspected to be associated with Bitmine, a notable entity in the crypto space. This significant transfer has caught the attention of traders who are assessing the potential implications of such large on-chain movements. While value investing in cryptocurrencies typically emphasizes long-term trends, sudden large inflows like this can indicate potential short-term volatility, prompting traders to evaluate the risk-to-reward ratio carefully.

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