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$813 Million in Ethereum Shifted to Be Sold as ETH Drops Below $1,500 After Merge

$813 Million in Ethereum Shifted to Be Sold as ETH Drops Below $1,500 After Merge

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Yuri Molchan

More than half a million ETH were transferred by anonymous whales after the long-awaited successful merger

Whale Alert, a cryptocurrency tracker that tracks large transactions in digital currencies, has noticed that several Ethereum transfers made in the last 24 hours with minor interruptions contained more than half a million ETH.

Half of it was sent from an unknown address to be sold on Binance. This happened just one day after the long-awaited Merge update of the Ethereum chain, which quickly turned into a “sell-the-news” event.

A total of 547,875 ETH were transferred using anonymous crypto addresses. The largest transfer, containing 240,099 ETH (valued at $357,901,283), was sent to the Binance exchange, which is most likely to be sold.

The remaining transfers moved around 100,000 ETH each.

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After the merger took place on Thursday, September 15, Ether, the native coin of the second largest blockchain, Ethereum, began to fall sharply. So far, ETH is down just over 10%, trading at $1,459 at the time of writing.

As soon as the plunge began, some analysts began calling the merger a “sell news” event, adding that the merger was priced in.

Source: https://u.today/813-million-in-ethereum-shifted-to-be-sold-as-eth-drops-below-1500-after-merge



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