Following the Merge upgrade, several experts expect that Ethereum will outperform Bitcoin due to its new deflationary cryptocurrency appeal. Ethereum transitioned from the proof-of-work to the proof-of-stake mechanism in mid-September, which slashed its energy usage by 99.95%.
Ethereum is likewise seeing profound attention from whales who continue to accumulate. In the past week, on-chain analytics firm Santiment reported that Ethereum"large whales," that is, those holding $10.9 million to $1.09 billion, added 947,940 ETH in the fifth largest single-day add in the past year.
Another encouraging sign for the ETH network is an increase in active and large key addresses, with the number of 100 to 100,000 ETH holder addresses reaching a 20-month high.
Isn't it high time we were mentioning this? 👀
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