After the
massive crypto market selloff today, whales sold Ethereum in millions to crypto exchanges as Ethereum core developers set the Shanghai upgrade in early April.Core developers and clients also decided the date for the Goerli testnet upgrade.
During the Ethereum ACDE, Ethereum core developers and clients
set the date for the Shanghai upgrade on the Goerli testnet.The upgrade will happen at epoch 162304 at 10:25:36 PM UTC on March 14.Moreover, the core developers anticipate the Shanghai mainnet hard fork in early April.
However, whales have started selling their ETH holdings after the announcement.Whale Alert
reported a transfer of 15,400 ETH worth $25 million from an unknown wallet to Binance.
Also, a transfer of 25,361 ETH worth over $41 million from an unknown wallet to Coinbase.
Lookonchain
revealed that the whale which transferred 15,400 ETH made a profit of $4 million in just 2 months.
The whale purchased 8,599 ETH with 11.48 million USDC and received 7,150 ETH worth $9.01 million from Binance in December 2022.
Also Read:
Will Ethereum Price Rise Or Fall After Shanghai Upgrade? New Data Reveals Answer
Trending Stories
While concerns are rising about the ETH price fall after the Shanghai upgrade, data suggests low selling pressure after the upgrade.According to Etherscan
data, over 17 million ETH worth about $29 billion have been deposited into Ethereum’s Beacon Deposit Contract, representing nearly 14% of the total supply.
Ethereum To Fall Below $1500 Before Shanghai Upgrade?
Ethereum price fell nearly 5% in the last 24 hours.
After a market-wide selloff today, the ETH price is currently trading at $1,568.The 24-hour low and high are $1,553 and $1,652, respectively.The trading volume has jumped in the last 24 hours, indicating interest among traders.
While the
ETH price to remain under pressure due to the fear of a 50 bps rate hike by the U.S.Federal Reserve, a fall below $1500 is unlikely.
Also Read:
US SEC Chair Drops Another Bomb For Crypto Exchanges; Coinbase In Trouble? Massive ETH Dump By Whales As Developers Reveal Ethereum Shanghai Upgrade Date Crypto Prices Today: Bitcoin and Altcoins Drop Over 4% Following Silvergate Filing Delay Crypto Crash: Liquidation Breaches $250 Million; Bitcoin To Slide Below $22K? Crypto Market Crash: Reasons Behind Bitcoin And Ethereum Price Dump Today Silvergate Fallout Triggers Over 5% Correction in the Bitcoin (BTC) Price and Crypto XRP Lawsuit: Ripple Expects Verdict By This Date, Here’s The Catch Breaking: U.S.SEC Chair Drops Another Bomb For Crypto Exchanges; Coinbase In Trouble? Breaking: Binance Burns 8.85 Billion Terra Luna Classic ($LUNC) Tokens XRP News: Ripple Escrow Unlocked; XRP Price To Take A Hit? https://coingape.com/will-ethereum-price-rise-or-fall-after-shanghai-upgrade-new-data-reveals-answer/?utm_source=priceanalysisbar Ethereum Price Prediction: Here’s How You Can Trade Ongoing Correction In ETH Conflux Coin Price Jumps 26% Today, Is The Correction Phase Over? Filecoin Price Prediction: FIL Tumbled 30% Amid Market Correction; Is This Dip Worth Buying? XRP Price Prediction: Here’s How XRP Holds 12% Growth Potential Amid Market Uncertainty Crypto Price Today Mar 1st: SingularityNET and Maker Coin Jumps 17% While EGLD Shows a 2% drop SHIB Price Analysis: Bearish Pattern Threatens Shiba Inu For Possible 20% Drop EOS Price Prediction: Can EOS Coin’s Next Recovery Cycle Surpass $1.5 Mark? Dogecoin Price Prediction: Bearish Pattern Puts DOGE Price On 10% Downside Risk AGIX Price Prediction: Does SingularityNET Coin’s 20% Jump Signal A New Bull Run? Crypto Price Today Feb 28th: How Altcoins May React to Bitcoin Sustainability Below $24000.
