The Ethereum whale wallet sends 145,000 ETH before ‘The Merge’! Recently, the community has been buzzing with news regarding Ethereum and ‘The Merge’. Now, there is an update in the community as an Ethereum whale wallet surprisingly appeared.
The Ethereum Whale Wallet
On August 14th, an Ethereum whale wallet that participated in the first token sale, or the Genesis ICO, appeared in the community. It was the first appearance after three years of dormancy.
Ethereum Genesis ICO giant whale 0x4bAf012726CB5EC7Dda57Bc2770798A38100C44d is active again after nearly 3 years of dormancy. Since yesterday, a total of 145,000 ETHs have been transferred out and distributed to multiple wallets. Wallet link: https://t.co/hpLujWwxWi
— Wu Blockchain (@WuBlockchain) August 15, 2022
When the price of Ethereum was around $2,000, the whale address sent 145,000 ETH to multiple wallets. The transfer occurred in several batches, such as 5,000 ETH, 10,000 ETH, and more. The total value of the transfer reached approximately more than $275 million.
The latest information on the Ethereum whale wallet attracted attention among people in the community. They are concerned whether this may be a sign of a market dump. One account said, “Sell the news, mega dump coming.”
Sell the news mega dump coming pic.twitter.com/EkG4BDIsVp
— Trader WhiteBeard (@SHlROIHI) August 15, 2022
However, the whale wallet transferred 145,000 ETH to multiple wallets, unlike in 2019, when the owner sent 5,000 ETH to crypto exchange Bitfinex. There is no confirmation that the wallet owner wanted to sell that amount of ETH, as it just moved to multiple wallets. The action is not significant enough to start the market dump. Now, it is still speculation about the intention of this action.
With the upcoming ‘The Merge’ event in September, many speculations appeared in the community. People believe “buy the rumor, sell the news” will happen. Therefore, with the recent information, the prediction that a similar thing will occur made them talk about it.