U.S. cryptocurrency exchange Kraken has reportedly unlocked 50,656 ETH, worth $107.62 million, from the Ethereum (ETH) restaking platform EigenCloud (EIGEN, formerly EigenLayer). On-chain analyst EmberCN explained, "Kraken unstaked these assets approximately 11 hours ago. The 'bubble' of restaking has burst too quickly. As recently as August last year, the total value locked (TVL) in restaking protocols was $31 billion, but it has now shrunk to around $11 billion. In particular, the TVL within EigenCloud, which was the leader in the restaking sector, plummeted from $22 billion to $5.5 billion."
