Ethereum Whales Move Their Assets In-mass To Exchanges, Big Dump Coming?

A report shows that top whale assets on non-exchange addresses have seen an 11% decline while on-exchange whale addresses have seen a 78% surge.
Data from crypto analytics firm Santiment show that the gap between top Ethereum Non-exchange addresses and on-exchange addresses is decreasing.

The Ethereum Blockchain is preparing for one of the Biggest breakthroughs this September 16 when it fully transitions from a Proof-of-Work algorithm to a Proof-of-Stake algorithm. After the completion of the Goerli testnet integration which in fact is the final merger before the Merge.

As many people are well aware of the risks in holding and trading cryptocurrency, even those that are not overly into crypto are cognizant and have some knowledge of the dangers of trading crypto. This gives no exception to Ethereum whales who moved their assets onto on-exchange addresses after noticing a drop in the holdings of non-exchange addresses.

A report from crypto analytics firm Santiment indicates that the gap between Ethereum’s top non-exchange addresses and on-exchange addresses is closing. Over the past 3 months, a 78% surge has been seen in exchange-based addresses while an 11% drop in the assets of Ethereum in non-exchange addresses. This comes after top whale addresses have sent considerable amounts of ETH onto exchange-based addresses.

What Happens To Ethereum After The Merge?

The move of assets onto on-exchange addresses indicates the onset of a bullish market and traders do this in the hope of trading their tokens.

Many market analysts presume the Merge is a “buy the rumor, sell the news” event. This means that the price is expected to rise as the crypto community awaits the transition and that doesn’t mean that will be the case AFTER the merge.

I think #Ethereum will drop so hard on the Merge day.

The whole anticipation is getting not bought up on the spot market but on the futures market.

Be warned.

— Crypto Rover (@rovercrc) August 23, 2022