• $2.21B value of has moved again to exchanges over the previous week.
• This enhance in site visitors for Ethereum (ETH) could possibly be attributable to the Ethereum Merge.
• Ropsten will endure a merge nearly an identical to the one that can finally happen round August.

In a submit on June 2, crypto social metrics Santiment revealed that “$2.21B value of Ethereum has moved again to exchanges over the previous week after a long-term exodus of cash transferring off of exchanges, courting again to August of 2022. That is probably the most sustained upswing in ETH being moved again to exchanges since Might 2021.”

Ethereum has moved again to exchanges over the previous week (Supply: Santiment)

This enhance in site visitors for Ethereum (ETH) could possibly be attributable to Ethereum laying the groundwork for its extremely anticipated transition to proof-of-stake (PoS). This transition is extensively often known as “The Merge.”

The community additionally hit an enormous milestone on Tuesday after the launch of the Beacon Chain on the Ropsten check community. One developer from Ethereum known as this launch “the primary gown rehearsal.”

Over the subsequent few weeks, Ropsten will endure a merge nearly an identical to the one that can finally happen round August. It’ll even be adopted by extra different merges on different Ethereum testnets.

If these “gown rehearsals” succeed, they would be the first and greatest signal that the Merge could possibly be simply across the nook.

For the time being, ETH is value $1,828.02 after a 5.72% lower in worth during the last 24 hours and after reaching a excessive of $1,965.17 over the identical interval. Over the past week, ETH additionally noticed a worth drop of round 4.96%.

Furthermore, ETH has a 24-hour buying and selling quantity of $21,415,358,317. This can be a 22.56% enhance during the last day.

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