Ethereum Whales Initiate Buying Craze As ETH 2.0 Mainnet Approaches

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Ethereum Whale (Courtesy: cryptobriefing.com)

Ethereum investors have come up on a large number to buy tokens after the foundation put out a plan to launch ETH 2.0. The past few hours have seen a huge surge of whales diving in to accumulate as much tokes as possibles. The increasing buying pressure may lead to new yearly highs despite the stiff resistance that lies ahead.

The group has grabbed the spotlight after it launched the Medalla testnet. Ethereum core developer Danny Ryan said that it will be the last testnet prior to ETH 2.0’s mainnet launch in November.

The testnet will allow its features to be tested and allow users determine its efficiency.

“The launch of Medalla is a huge milestone in the development of eth2 – if Medalla proves stable, mainnet launch is next – and represents years of hard work by countless engineers, researchers, and community members. We hope you are as excited as we are,” said Ryan.

At a time when the speculations have risen, large investors rushed to add more Ether to their portfolios. Meanwhile, ever since the Ethereum 2.0 was launched the addresses holding 10,000 to 100,000 ETH only rose up.