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Ethereum Whales Shift Their Holding Into Reputable Exchanges

Ethereum Whales Shift Their Holding Into Reputable Exchanges


NewsBTC
2022-08-27 01:24:42
Ethereum Whales Shift Their Holding Into Reputable Exchanges

Many people are already aware of the risks of trading or holding cryptocurrencies. Even those not overly concerned by the crypto market have some knowledge about the dangers. The volatility of certain digital currencies, such as Bitcoin and Ethereum, is why many individuals and firms seek ways to maintain the value of their assets. The Ethereum whales are no exception to this fact. Seeing the drop in the holdings of non-exchange addresses, ETH whales decided to move their holdings to on-exchange addresses. Related Reading: What The Negative Bitcoin Funding Rates Say About Investor Outlook A report showed that in the last three months, there had been an 11% drop in the assets of Ethereum in non-exchange addresses. Meanwhile, there was a whopping 78% in the holdings of whale on-exchange addresses. Ethereum Merge And Its Price One of the most significant events ever carried out in the crypto industry is the Ethereum 2.0 upgrade. Moreover, since the creation of the blockchain, there hasn’t been a more significant event than the upcoming merge. Through this event, Ethereum proof-of-work mining system will be moved to that of proof-of-stake after the upgrade. The end of the Merge signifies the successful completion of phase 2 of 3 stages of the migration into the PoS system. Ethereum began the migration into the PoS consensus in December 2020. The process started through the introduction of a chain called Beacon. This was rega...

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