After sleeping for 3 years, an “old giant whale” who participated in the ICO of Ethereum in 2014 and obtained about 150,000 ethers made a big move on August 14, transferring 145,000 ethers. At the time of the merger and upgrade of Ethereum, the move immediately aroused the curiosity of the cryptocurrency community. Some people believe that this big player may want to participate in the pledge of Ethereum 2.0, while another theory is that these Ethereum may be used for staking. sell off.
However, it is worth noting that at the moment when the giant whale transferred 145,000 ETH, it coincided with the ETH surged above 2,000 US dollars, setting a new 3-month high. Transaction data from the blockchain data platform Etherscan shows that the ether was split into multiple transactions and transferred to several unmarked wallets, with a total transaction value of more than $280 million, and the wallet currently has a balance of 0.117 ether. 
This is the second time the whale wallet has transferred ether since the ICO era. The first was in July 2019, when it sent 5,000 ether to cryptocurrency exchange Bitfinex, a transaction worth about $1 million at the ether’s trading price of $219 at the time.
Now, the “old whale” has once again transferred a large amount of ether, which has inevitably attracted the attention of the cryptocurrency community. Many people claim that these ether may be sold before the merger, but if so, these tokens are reasonable. It is said that it should be transferred to the exchange, but in fact it flows into an unknown wallet.
Still, even if the whale finally decides to dump 145,000 ether, the $250 million in selling pressure won’t be enough to trigger a larger market sell-off. Others have suggested that the big man may be trying to stake ether to become a validator on the PoS network and generate passive income from it.
Following the successful integration of the Ethereum testnet Goerli into the Beacon Chain, Ethereum core developers have completed discussions on a possible date for the Ethereum merger, currently tentatively set for September 15.
At present, Ethereum still relies on the “Proof of Work” (PoW) consensus mechanism for mining. Once the merger and upgrade is completed, Ethereum will fully switch to the PoS mechanism to operate and eliminate mining. At that time, users will be based on their own contributions or pledges. Quantity to verify transactions and get rewards. In this way, the operating efficiency of the Ethereum blockchain will be improved, and the cost of use and energy consumption will be reduced.
