Crypto market observers are closely watching a significant withdrawal of 23,365 Ethereum from the Kraken exchange, a move signifying a potential shift towards long-term holding strategies. This notable ETH transfer highlights the growing trend of investors opting for secure and private storage solutions, particularly cold wallets. Blockchain analytics firm LookOnChain reported on X that this substantial transaction involved funds being moved to a newly created wallet. 23,365 Ethereum is valued at over $104 million, highlighting the scale of the event. This withdrawal, often interpreted as bullish, suggests a deliberate decision by investors to secure their assets for the long term instead of liquidating them on exchanges.