Cryptocurrency News Official TheBitTimes.com

Ethereum's supply across whale addresses has dropped consistently since March 2020, offset by greater retail interest. The share of Ethereum (ETH) held by so-called whale addresses has dropped since Ethereum's Shapella upgrade in mid April, suggesting that large investors may be leaning bearish in t near term. ETH whale population shrinks post-Shapella The amount of Ether held by addresses with 1,000-10,000 ETH, or " whale s," was over 14.033 million ETH on May 1, according to Glassnode data. In comparison, the count was 14.167 million ETH on April 12, when Shapella went live on Ethereum. Ethereum whale net position change. Source: Glassnode Interestingly, a week before the Shapella upgrade, the Ethereum whale cohort held 14.303 million ETH, the highest amount in 2023 "Shrimps" only ones buying ETH since Shapella Ether's price is down over 3.5% since the Shapella upgrade— suggesting that several whales may have indeed "sold the news." Interest...

The Ethereum ecosystem is edging closer to its latest milestone as the Shanghai upgrade draws near. The Ethereum ecosystem will continue its ongoing metamorphosis as the highly anticipated Shanghai upgrade draws near. The latest preeminent smart contract blockchain protocol improvement will activate Ether (ETH) withdrawals from Ethereum’s Beacon Chain. The Merge marked a significant milestone for the Ethereum network in 2022, with the blockchain platform shifting from proof-of-work to proof-of-stake consensus. That change introduced validators as the new “miners” of the network, with staking ETH becoming a key component in maintaining the network. While full validators were required to stake 32 ETH to process transactions and add new blocks to the network, the broader ecosystem could stake smaller amounts of ETH to earn a share of rewards — much like an investor that puts capital into interest-bearing accounts. Those that locked up ETH to become validators have been unable to withdraw...