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Ethereum whales increased transaction at 2 month high during Goerli merger


Reaching a 2-month high at $1,919, a series of institutional inflows has pushed forward the ETH price to new heights. This comes while coins like Bitcoin have seen record outflows in the same period of time. 

The successful merger of the Goerli Testnet in the Ethereum ecosystem has marked a final step in leading up to the Ethereum mainnet merg which will see it transition from a proof-of-work consensus to a proof-of-stake consensus. Slotted Mid September, the mainnet will be the final step in the completion of the merge, an event almost 3 years in the making. Traders have caused a 2-month high in inflows. 

After Ropsten and Sepolia testnet merges, the Goerli chain was the last, a final rehearsal for the mainnet merger. 

Considered to be one of the most critical updates for Ethereum, which will see its scalability increase exponentially, but also for the cryptocurrency market as well, which has seen some of the steepest decline in its history. Bullish sentiment is growing, the Ethereum platform has felt the effects as its price surged to $1,919 on the day, outperforming Bitcoin(BTC) in daily gains. Its double digit surge may have been aided by a number of whale transactions to the value of $100,000. A growing accumulation of whale transactions came amid the success of the Goerli testnet merge. 

An increase in capital inflows to the Ethereum based investment funds attracted over $16.3 million last week, beginning August 5th. This while Bitcoin experienced capital outflows of over $8.5 million during the same week, marking the beginning of bullish sentiment from investors. 

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