Ethereum Whale Transfers 109,515 ETH from Unknown Pockets

The Ethereum Merge Does Not Increase ETH’s Value
The much-awaited Ethereum Merge, an enhancement for the ETH community, did not increase the value of the second-largest cryptocurrency in the world. Ethereum fell to $1,410 on Saturday, September 15, 2022, from a high of $1,660 on that day.
Whale Alert, a well-known blockchain tracking and analytics tool, discovered a sizable Ethereum transfer in the middle of the cryptocurrency chaos. Whale Alert reports that on September 16, at approximately 11:03 UTC, 109,515 Ethereum, valued at nearly $160 million, were transferred from an unidentified wallet. A second payment of 100,000 ETH coins was finished two hours later, between 13 and 30 UTC, from an unidentified wallet.
The Ethereum exchange balance reached a five-month high of 21.96 million earlier this week. The amount of activity within the ETH community also increased significantly last week, as 1,199 ETH addresses held 10,000 Ethereum or more, a record.
The updated ETH network is thought to be substantially more efficient by the crypto community. Vitalik Buterin, co-founder of ETH, stated in a recent Tweet that the Merge had significantly decreased energy consumption.
In a formal statement, ARK36 CEO Anto Paroian commended the Merge. From a technological perspective, it’s difficult to overestimate the significance of the engineering achievement represented by the Merge, he stated. The fact that it was organised by a worldwide developer community independent of a central authority is already a triumph for the basic ideas of the cryptocurrency world: self-governance, decentralisation, and open-source cooperation. However, Ethereum is still in its early stages of its true test, and the stakes are quite high.”

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