475 Billion SHIB Scooped up by Whales as ETH Merge Promises Positive Effects for SHIB
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
WhaleStats on-chain wallet tracker that collects data on several blockchain platforms has reported that over the past 24 hours, the 1,000 largest investor wallets on Ethereum chain had purchased a staggering amount of Shiba that was close to half a trillion SHIB.
In the meantime, some in the SHIB army are expecting the upcoming Ethereum Merge to have positive effects for SHIB.
$6 million worth of SHIB added to wallets
In a recent tweet, WhaleStats reported that since Monday, the top Ethereum whales have purchased $6 million in SHIB, which equals 475,435,816,164 SHIB at the current SHIB/USD exchange rate.
On Monday, these whales held over $147 million in these canine coins. Recently, WhaleStats reported that these wallets contained $153,202,373 worth of Shiba Inu.
🐳 The top 1000 #ETH whales are hodling
— WhaleStats (tracking crypto whales) (@WhaleStats) September 6, 2022
$153,202,373 $SHIB
$113,829,451 $BIT
$66,535,902 $LINK
$63,772,458 $MKR
$62,513,632 $LOCUS
$54,929,986 $UNI
$45,931,852 $MANA
$41,021,020 $MOC
Whale leaderboard 👇https://t.co/jFn1zIOq03 pic.twitter.com/MJYdrzqu2f
Yuri Molchan"The Merge will affect SHIB"
Twitter user Lucie Sasinkova has tweeted that the approaching Ethereum upgrade, Merge, is going to have a big positive effect on SHIB and Shibarium Layer 2 solution after it is launched. SHIB runs on Ethereum, and Shibarium will be launched on this blockchain too.
She expects SHIB to get faster transfers and low fees, which could become the basis for mass adoption of SHIB.
Remember #SHIBARIUM is built on top of Ethereum as layer 2. The merge will affect us.
— Lucie Sasinkova (@GossipShib) September 6, 2022
Faster transactions! After the last stage of sharding implementation, the fees could be as low as possible, which will encourage the crypto mass adoption .. $SHIB $BONE $LEASH pic.twitter.com/hrdU9kBcTM
Merge is to take place on Sept. 15. Today, another crucial event is taking place on Ethereum - Bellatrix hard fork, which will prepare the blockchain for Merge.
Co-founder of Ethereum Vitalik Buterin reminded the community about today's hard fork and reminded that all stakers should update their clients.
The merge is still expected to happen around Sep 13-15. What's happening today is the Bellatrix hard fork, which *prepares* the chain for the merge. Still important though - make sure to update your clients!
— vitalik.eth (@VitalikButerin) September 6, 2022
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin