The largest transaction in 7 months took place in the Ethereum network

As it became known, the largest transaction in 7 months took place on the Ethereum network — all thanks to a crypto whale that purchased an ETH futures contract worth $ 1.7 billion.

Analysts are convinced that the increase in the activity of large cryptocurrency investors is caused by the announcement of the date of transition to the «green» blockchain, thanks to which users began to invest in ethereum and, accordingly, contributed to the increase in its value. At the time of writing, ETH is trading for $ 1600, with an increase in value of about 52% over the past seven days. The weekly growth rate of the ether price is twice as high as that of bitcoin, which has increased by 23.38% (at the time of writing, ETH is trading for $ 23,979).

It is worth reminding that in just 3 days, the price of Ethereum has increased by 26% (after the announcement of the preliminary date of the transition to Proof-of-Stake). Thus, during an online conference, Ethereum’s chief developer Tim Bako called September 19 the day when the «merger» may occur, and other developers agreed with this date. The final test is to take place on the Goerli network, which is scheduled for the second week of August. The exact date of the transition will depend on the results. The transition of Ethereum to a PoS network is expected to reduce energy consumption by 99%.