Kraken Withdraws 50,600 ETH from EigenCloud Amid Declining TVL

2026-05-26 11:15

Kraken has redeemed 50,600 ETH, valued at approximately $107 million, from the restaking project EigenCloud, according to on-chain analyst Yujin. This move comes as the total value locked (TVL) in the restaking sector has significantly decreased, falling from around $31 billion in August last year to about $11 billion currently. EigenCloud has experienced a similar decline, with its TVL dropping from approximately $22 billion to around $5.5 billion. The withdrawal by Kraken highlights ongoing shifts in the restaking market, reflecting broader trends of reduced capital allocation in the sector.

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