Exchanging huge amounts of Ethereum before the update date…details here
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Answer Exchanging huge amounts of Ethereum before the update date…details here
The Ethereum upgrade is closer than ever, as its scheduled date has been revealed this coming September.
Currently Ethereum is in a strange place as investors are not yet ready to invest in the network ahead of the fundamental change because it is not yet clear what kind of impact the switch from PoW mining to stake will have on the mainnet.
What is worth noting is the massive influx of Ethereum towards centralized exchanges which is one of the main indicators of intense fear among investors who are moving their holdings to the exchanges to sell Ethereum coins as soon as possible if things do not go as planned with the new release of Ethereum 2.0.
Despite the insecurities of some market participants, many Ethereum test environments received the update and had absolutely no technical issues with it.
The only thing investors have to worry about at the moment is the unexpected reaction of the cryptocurrency market.
Fortunately, the market reacted more than positively upon revealing the exact date that the integration update for Ethereum will begin, as the second largest cryptocurrency in the market has seen a massive 60% price increase in the past two weeks.
But the rise was rapid and so was the decline that followed.
What do other indicators tell us about Ethereum?
While the number of Ethereum in central trading platforms is growing exponentially, other indicators show that the sentiment around cryptocurrencies is not doing well given the general situation of the cryptocurrency market.
Read:The price of Ethereum against Bitcoin reaches its highest level in 3 months
Trader sentiment declined slightly after Ethereum failed to push the price back above the May $2,000 level.
At the moment, the majority of participants do not expect anything exceptional from the second largest cryptocurrency until the awaited base upgrade is published.
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