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.
Whale Alert cryptocurrency tracker that traces large transactions of digital currencies has noticed that several transfers of Ethereum made over the last 24 hours with small breaks between each other carried more than half a million ETH.
Half of it was sent by an unknown address to be sold on Binance. This happened merely one day after the long-awaited Merge upgrade on Ethereum chain, which quickly turned into a "sell-the-news" event.
A total of 547,875 ETH was moved by anonymous crypto addresses. The biggest transfer, which carried 240,099 ETH (worth $357,901,283) was sent to the Binance exchange, most likely to be sold.
The rest of the transfers shifted roughly 100,000 ETH each.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 240,099 #ETH (357,901,283 USD) transferred from unknown wallet to #Binancehttps://t.co/viBJeoLeve
— Whale Alert (@whale_alert) September 15, 2022
Yuri MolchanAfter the Merge took place on Thursday, Sept. 15, Ether, the native coin of the second biggest blockchain Ethereum, began dropping hard. By now, ETH has plunged by slightly over 10%, trading at $1,459 at the time of writing.
As soon as the plunge began, some analysts began talking about the Merge turning into a "sell-the-news" event, adding that the Merge was priced in.
Arman Shirinyan
Dan Burgin
Alex Dovbnya
Vladislav Sopov