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The whales are hitting the bottom of this Altcoin! Big news coming soon! ›CoinTurk

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Reading time: 3 Minute

The bear season in the cryptocurrency markets is a time when real investors emerge. In bullish times, everyone considers themselves to be a very good analyst, as he makes money for everything he buys. But bear markets aren’t like that. Only those who invest in the right options at the right price are rewarded during the uptrend. Investors and whales are also turning to this altcoin ahead of the big news.

Great news is on the way

The highly anticipated Ethereum PoS merger is imminent. Investors and whales not to miss the train Ethereum (ET) buy back. Even today, Ethereum founder Vitalik Buterin bought around 800 ETH. Since the start of the “metropolis phase” in autumn 2017, aimed at solving the challenges of expansion and growth, it has been clear that the carbon footprint must be reduced by around 99% for the network to receive attention. global deserves.

Since then, many updates have been made in preparation for this great transformation. This phase has been a work in progress since January 2020 and is mainly focused on reducing network congestion, as well as on the problem of the constant high energy consumption that derives from the PoW mechanism. Last week, Ethereum developers successfully ran “Ropsten,” the first of three main tests, before completing the merge.

Altcoins bought from whales

Consolidation not only reduces energy consumption in the network, but also theoretically ET It is also expected to improve the current token burning mechanism by raising its prices. Furthermore, Eth 2.0 is designed to be more secure, sustainable and scalable. This, plus the fact that Ethereum 2.0 staking services are currently one of the hottest topics in cryptocurrencies, could be why the merger is intrigued by many cryptocurrency fans.

According to data from IntoTheBlock, address balances held between 0.01-0.1 ETH have increased by 3.35% over the past 30 days, although Ethereum’s trading volume has been on a downward trend over the past two months. This collection represents small individual investors.

1-10 ETH and 10-100 ETH have followed the same accumulation trajectory, continuously increasing their holdings over the past 6 months, Santiment reported last week. Health data shows that the decline hasn’t deterred the whales. Ethereum hit its lowest level in two years today, offering investors a great buying opportunity. Obviously, we cannot say that the current decline in these days has come to an end, but if you wanted to buy Ethereum in the last 2 years, you should buy above the selling price today.

Investors who think the merger will be completed, albeit late, continue to invest in Ethereum. Ethereum is expected to move to a full PoS mechanism by November this year.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk and should execute their transactions in line with their own research.

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