Kraken Withdraws 50,600 ETH ($107M) From EigenLayer Restaking

On-chain analyst Ember (@EmberCN) reported that Kraken redeemed 50,600 ETH from the restaking protocol EigenCloud roughly 11 hours ago, an amount valued at about $107 million. Sector data show restaking total value locked has fallen from around $31 billion in August last year to approximately $11 billion. EigenCloud's TVL has also dropped, sliding from about $22 billion to roughly $5.5 billion.