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68 New Whales Join Ethereum Network As Price Surges Above $350

68 New Whales Join Ethereum Network As Price Surges Above $350. Ethereum is a technology that allows users to send digital currency to anyone for a small fee. According to Wikipedia, Ethereum is the second-largest digital currency platform by market capitalization, after Bitcoin. It was released on July 30, 2015. Their cryptocurrency is known as Ether. The platform serves more than 260,000 different cryptocurrencies, including 47 of the top 100 cryptocurrencies by market capitalization.

68 New Whales Join Ethereum Network As Price Surges Above $350

Ethereum was divided into two separate blockchains, the ETH and ETC. The new separate version is the ETH with the left reversed while the original chain continued as ETC. It offers a decentralized virtual machine, the Ethereum Virtual Machine, which can carry out scripts using an international network of public nodes.

However, the EVM instruction set, in contrast to others like Bitcoin Script, is turning-complete. The platform is currently planning on implementing a series of upgrades known as “Ethereum 2.0. it’s specifications I include a transition to proof of stake and an increase in transaction throughput using sharding tech.

68 New Whales Join Ethereum Network As Price Surges Above $350

According to Nairametrics, Ethereum whales are going for a rebound as price pick up from it’s current lows. About 68 new whales holding 1000-10,000 ETH have joined the network few days ago. A crpto researcher, Ali Martinez recently spoke about the Ethereum whales, the Increase in his Twitter feed stating that as Ether fell, there was a surge in the first number of addresses with millions of dollars in Ethereum colloquially known as whales.

However, during the time the report was drafted, Ether traded at $352.28 with a daily trading volume of $23 billion. The price for ETH is up to 5.0% in the last 24 hours. With a circulating supply of 110 million coins and a max supply of °°coin.

Nairametrics observed the high movement by these Ethereum whales as these large entities have purchased almost half of all the Ethereum mined so far in 2020.

However, it’s clear evidence that main investors are now looking at the future potential of ETH as an investment, not minding the recent sell-offs recorded in the second most capitalized digital currency market.

To add to that, the recent boom in Defi tokens is as triggered an unusually high volume of transactions on the network, often leading to congestion and a surge in transaction fees charged by ETH miners.

What You Should Know About Ethereum

It is a digital currency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, control, interference, or interruption from a third party.

Moreover, Ethereum is a decentralized system that is totally independent, and not under anybody’s authority. it has no pivotal point and its platform is linked to thousands of Its users through their computing system across the globe. What does this mean? It simply means it’s not possible for the platform to go offline

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