15,000 ETH Suddenly Moved as Ethereum Dencun Upgrade Triggers

15,000 ETH Suddenly Moved as Ethereum Dencun Upgrade Triggers

The Ethereum Dencun upgrade is now live, generating excitement across Ethereum and the larger crypto communities. A key impact of this major upgrade will be reduced rates across the network, helping to alleviate congestion and improve scalability.

The Ethereum Dencun upgrade is now live, generating excitement across Ethereum and the larger crypto communities. A key impact of this major upgrade will be reduced rates across the network, helping to alleviate congestion and improve scalability.

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He Dencun update brings several changes, the most notable of which is the implementation of ephemeral data blobs with EIP-4844, known as “protodanksharding”, which will help reduce L2 transaction fees and thus usher in a new era of data scalability. Ethereum.

As the Ethereum community celebrated the long-awaited Dencun upgrade, a major ETH transfer caught the market’s attention. A whale, an individual or entity that holds large amounts of cryptocurrency, deposited 15,000 ETH on the Binance and Bitfinex cryptocurrency exchanges.

Depositing such a large amount of ETH for trading usually indicates a potential sale; Therefore, this unexpected move has generated speculation and intrigue within the crypto community, particularly as it coincides with the release of the Dencun update.

According look chainA whale removed 15,078 ETH worth $60.3 million and deposited it on Binance and Bitfinex.

What makes the move quite unusual is that the Dencun upgrade is expected to act as a positive catalyst for the price of ETH, leading to speculation about the whale’s confidence in the immediate impact of the upgrade on the market. .

However, this might not be the case, as Lookonchain speculates that the whale may be selling its ETH holdings to pay off the debt. The whale has a debt of 110 million DAI to Spark and a health rate of 1.57.

Related
Ethereum Dencun Update: Final Countdown Begins

crypto data tracker, Whale alert reports significant ETH movement before and during the release of the Dencun upgrade. A total of 10,132 ETH worth $41,011,423 was transferred from an unknown wallet to the Kraken exchange.

Hours before the release of the Dencun update, 18,560 ETH worth 75,324,186 were transferred from Binance to an unknown wallet. A total of 244,550 ETH worth $992,516,261 and 50,000 ETH worth $202,898,923, as well as other significant transactions, were also moved between unknown wallets.

As the dust settles, the community is anxiously watching the potential impact of the Ethereum Dencun upgrade on the market and the price of ETH, which remains largely unknown.

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