ChainCatcher report: According to on-chain analyst Yujin, the exchange Kraken redeemed 50,600 ETH ($107 million) from the restaking project EigenCloud. The total TVL in the restaking sector has declined from $31 billion in August last year to $11 billion, with EigenCloud (formerly Eigenlayer), the market leader, seeing its TVL drop from $22 billion to $5.5 billion.
Kraken Redeems 50,600 ETH from EigenLayer, Worth $107M
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Summary
Kraken redeemed 50,600 ETH (worth $107 million) from EigenCloud, according to on-chain analyst Yu Jin. ETH prices remain under pressure as the total value locked (TVL) in the restaking sector declined to $11 billion from $31 billion. EigenCloud’s TVL fell to $5.5 billion from $22 billion. ETH analysis shows continued outflows from restaking protocols.
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