Ethereum Whales Shift Their Holding Into Reputable Exchanges

Most people already know about the dangers of holding or trading cryptocurrencies. The risks of trading or holding cryptocurrencies are well-known to even those who don’t care too much about them. Many people and businesses are looking for ways to preserve the value of their assets because of the volatility of digital currencies like Ethereum and Bitcoin.

This is a fact that the Ethereum whales have been observing. Seeing the decrease in non-exchange address holdings, ETH whales moved their holdings to exchange addresses.

According to a report, the Ethereum assets in non-exchange addresses have dropped 11% in three months. The holdings of whale on exchange addresses increased by 78%.

Ethereum Whales Shift Their Holding Into Reputable Exchanges
Check out the top ten cryptocurrency exchanges. Source: Santiment

Ethereum Merge and Its Prices

Ethereum 2.0 upgrades are one of the greatest events to have ever taken place in crypto. Moreover, since the creation of the blockchain, there hasn’t been a more significant event than the upcoming merge. This upgrade will see the Ethereum proof-ofwork mining system move to one of proof-ofstake.

Merge signals the completion of stage 2/3 of the migration into PoS. In December 2020, Ethereum started the process of migrating to the PoS consensus. Beacon, a chain that was introduced in December 2020, started the process. This was considered phase one of the transition.

In 2021, Phase 2, the Ethereum merge, would be complete. The plan fell through due to some delays. This result led to a shift in the plan, which brought it into Q3-2022.

The following is an extract from the communityThe last phase of the transition is the most important of the three. This is because it’s intended to activate some vital features, including reducing the energy consumption of the blockchain and sharding.

The community has reported that the merger process is now at 95%. This was despite the fact that it had been scheduled for September. This will happen after the Goerli testnet is successfully completed.

As of July 2017, the news regarding the merging had an impact on Ether’s price. Its price reached a six-month peak of around $2,000. This was a great bullish price move that brought its price to a 6-month high of approximately $2,000.

The data from that time to now showed a decline in several altcoins’ prices, including Ethereum. Sentiment on the market has also dropped to a low.

Ethereum Whales Shift Their Holding Into Reputable Exchanges Ethereum drops below $1,550 per l

As the merger draws closer, this becomes more apparent. There has also been an increase in Ethereum whale holdings.

Featured image taken from Pixabay. Chart from

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