20 sats \ 0 replies \ @kr OP 9 May 2022
In a follow-up comment, Pierre also said Kraken's routing earnings in the last 3 weeks were similar to their first 3 weeks, which was 1.6 million sats.
https://twitter.com/pierre_rochard/status/1523452845051498496
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3 sats \ 2 replies \ @fanis 9 May 2022
Interesting! Honestly, I didn't expect there to more deposits than withdrawals. In my mind, Lightning killer app at Kraken is quickly moving one's coins off-exchange. What am i missing? Arbitrageurs? Lightning-aware sellers (how could you know about Lightning and still wanna sell on Kraken)? Node operators using deposits as a way of moving liquidity inside channels?
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10 sats \ 1 reply \ @timechain 9 May 2022
I think people pull their coins off exchanges to cold self custody. Lightning coins are always hot storage. I haven't checked out what their withdrawl fees are, but its possible it's a cost effective way for someone to move coins back on chain, albeit a very KYC way.
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5 sats \ 0 replies \ @fanis 9 May 2022
Yeah, their on-chain fees hace been lowered a lot lately. Might be a "good" (at least, cost effective if the counterparty risk and privacy aspect don't bother you too much) way to bring your Lightning coins on chain indeed.
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0 sats \ 1 reply \ @EnormousPony 9 May 2022
I'm not a fan of KYC exchange, I'm a BISQ enjoyer, but if I have to suggest a CEX I will suggest Kraken because it's the best of the worst
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0 sats \ 0 replies \ @timechain 9 May 2022
Def the best not bitcoin only one. Alotta times altcoin exchanges really don't put much effort into supporting Bitcoin, (ie, good blockspace use) but Kraken seems to care.
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