Unknown wallet deposits 260K Ethereum worth $434M on Binance

An unknown investor has sent a huge number of Ethereum tokens to Binance. A twitter account called Whale Alert has observed the movement of a huge amount of ether tokens.

A $434 million transaction

Whale Alert has announced for about 2 hours that 260 thousand Ethereum tokens have been deposited on the crypto exchange Binance. These 260,000 coins were worth $434.2 million at the time.

Not surprisingly

Unsurprisingly, a huge amount of ETH tokens are deposited on Binance. Ethereum will undergo a major upgrade, which will eventually lead to the transition of the network from a Proof-of-Work algorithm to a Proof-of-Stake.

The Ethereum team has announced that the so-called ‘Merge’ will take place around September 13, 14 or 15, 2022. With the upgrade coming soon, the price of Ethereum is expected to fluctuate widely in the hours leading up to the upgrade.

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