More than half million ETH moved by anonymous whales after long-expected successful Merge
The Whale Alert cryptocurrency tracker that tracks large transactions of digital currencies has observed that there were more than half a million ETH in multiple Ethereum transfers made with small breaks between each other over the past 24 hours.
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 transferred by anonymous crypto addresses. The largest transfer, containing 240,099 ETH ($357,901,283), was sent to the Binance exchange, which is most likely to be sold.
The rest of the transfers shifted roughly 100,000 ETH each.
Ether, the native coin of the second-largest blockchain Ethereum, began to fall sharply after the merger on Thursday, September 15. At the time of writing, ETH is down a little over 10% so far, trading at $1,459.
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.
