Ethereum Whale Transfers 109,515 ETH from Unknown Wallet

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Ethereum Merge, the much-anticipated network upgrade of ETH, failed to raise the price of the world’s second largest cryptocurrency. After touching $1,660 on September 15, 2022, Ethereum hit a low of $1,410 on Saturday. Amid the crypto chaos, a large Ethereum transfer was observed by Whale Alert, a prominent blockchain tracking and analytics platform.

According to Whale Alert, primary crypto address has moved 109,515 Ethereum is worth almost $160 million from an unknown wallet on 16 September. The transfer was carried out around 11:03 UTC. In a separate transfer about two hours later, 100,000 ETH coins were moved from an unknown wallet at 13:30 UTC.

Earlier this week, Ethereum’s exchange balance reached 21.96 million, the highest level in five months. Network activity related to ETH also increased significantly last week, as the total number of ETH addresses holding at least 10,000 Ethereum touched the 1,199 level for the first time on record.

The dominance of whale owners across the ETH network has increased in recent years.

ETH Merge

The crypto community believes that Ethereum’s updated network is more efficient. In a recent Tweet, ETH co-founder Vitalik Buterin said that the ETH Merge has significantly reduced energy usage.

“From a purely technological perspective, it’s hard to overstate what an engineering feat the Merge represents. No analogy could perfectly capture its technological complexity. But, literally, it’s more or less like building a new engine for a car going full speed and then changing the engines without the car to ever stop or slow down. That it was orchestrated by a global network of developers who are not managed by any central entity is already a triumph of the core ideals of the crypto space – decentralization, self-governance and open source collaboration. At the same time, the great trial for Ethereum has just begun and the stakes are incredibly high,” said Anto Paroian, CEO of ARK36.

Ethereum Merge, the much-anticipated network upgrade of ETH, failed to raise the price of the world’s second largest cryptocurrency. After touching $1,660 on September 15, 2022, Ethereum hit a low of $1,410 on Saturday. Amid the crypto chaos, a large Ethereum transfer was observed by Whale Alert, a prominent blockchain tracking and analytics platform.

According to Whale Alert, primary crypto address has moved 109,515 Ethereum is worth almost $160 million from an unknown wallet on 16 September. The transfer was carried out around 11:03 UTC. In a separate transfer about two hours later, 100,000 ETH coins were moved from an unknown wallet at 13:30 UTC.

Earlier this week, Ethereum’s exchange balance reached 21.96 million, the highest level in five months. Network activity related to ETH also increased significantly last week, as the total number of ETH addresses holding at least 10,000 Ethereum touched the 1,199 level for the first time on record.

The dominance of whale owners across the ETH network has increased in recent years.

ETH Merge

The crypto community believes that Ethereum’s updated network is more efficient. In a recent Tweet, ETH co-founder Vitalik Buterin said that the ETH Merge has significantly reduced energy usage.

“From a purely technological perspective, it’s hard to overstate what an engineering feat the Merge represents. No analogy could perfectly capture its technological complexity. But, literally, it’s more or less like building a new engine for a car going full speed and then changing the engines without the car to ever stop or slow down. That it was orchestrated by a global network of developers who are not managed by any central entity is already a triumph of the core ideals of the crypto space – decentralization, self-governance and open source collaboration. At the same time, the great trial for Ethereum has just begun and the stakes are incredibly high,” said Anto Paroian, CEO of ARK36.

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