Key Highlights
- BitMEX co-founder Arthur Hayes purchased 1,332.5 ETH for approximately $2.53 million, bringing his July acquisitions to over 3,270 ETH valued at roughly $6.2 million
- In a June reversal, Hayes liquidated 6,000 ETH at a loss before resuming accumulation throughout July
- The Ethereum network’s staking ratio reached an unprecedented 33.9%, representing approximately 40.9 million ETH secured in validators
- Three freshly-created wallets extracted 30,000 ETH (approximately $58 million) from Coinbase Prime, while additional large addresses transferred ETH from centralized platforms
- ETH confronts critical resistance between $1,963 and $2,000, with analyst Ali Martinez suggesting a sustained close above $2,000 could trigger a move toward $2,060 and beyond
BitMEX co-founder Arthur Hayes has resumed accumulating Ethereum in notable quantities. Blockchain intelligence firm Lookonchain revealed he acquired 1,332.5 ETH through a single transaction valued at approximately $2.53 million, securing an average entry point around $1,899.
This acquisition follows two additional July transactions. The first involved approximately 646 ETH obtained through a USDC exchange with Galaxy Digital. The second comprised a purchase of roughly 1,293 ETH costing about $2.48 million.
In total, Hayes has secured more than 3,270 ETH throughout July. The aggregate value based on entry prices approaches $6.2 million.
This represents a strategic pivot from his June activity. Hayes offloaded 6,000 ETH during the previous month, incurring an approximate $606,000 loss. He subsequently re-entered the market during Ethereum’s price correction.
Trading analyst Daan Crypto Trades highlighted on X that ETH is currently attempting a breakout pattern and successfully closed above its Bull Market Support Band for the first time since late 2025. He emphasized that bulls require sustained momentum, noting that a climb above the 0.03 ETH/BTC ratio would confirm a complete breakout pattern with continuation potential.
Network Staking Reaches Unprecedented Levels
According to Token Terminal analytics, Ethereum’s staking ratio has achieved an all-time high of 33.9% relative to circulating supply. This represents approximately 40.9 million ETH dedicated to network validation.
An additional 2.47 million ETH currently waits in the activation queue, facing an estimated 43-day delay before entering active staking. The withdrawal queue currently stands empty. The current staking annual percentage rate measures approximately 2.64%.
ETH committed to staking remains unavailable for immediate spot market trading unless accessed through liquid staking derivatives. An expanding staking ratio, paired with diminishing exchange reserves, can meaningfully constrain the ETH supply accessible to potential sellers.
Major Holders Withdraw ETH From Trading Platforms
Significant holders have been systematically removing ETH from centralized exchanges. Three recently-established wallets withdrew 30,000 ETH, representing nearly $58 million, from Coinbase Prime. Additional addresses transferred substantial quantities from Binance and Gemini prior to staking operations.
Such withdrawals diminish the available supply on exchange order books, potentially restricting sell-side pressure when demand conditions strengthen.
Current Price Action and Critical Thresholds
ETH is trading above the $1,900 level, with today’s trading range spanning approximately $1,852 to $1,950. A significant resistance zone exists between $1,963 and $2,000.
Technical analyst Ali Martinez stated that a decisive daily candle close above $2,000 could unlock the $2,060 region, with sustained bullish momentum potentially extending toward the $2,150ā$2,200 territory.
Downside support remains established near $1,850ā$1,870. A daily close beneath $1,850 would potentially reactivate the $1,700ā$1,750 price range.
Market analytics indicate substantial liquidation exposure concentrated above $1,968. A breakthrough beyond this threshold could compel short position holders to execute forced buy orders through market purchases.
ETH currently maintains position just above $1,900 as market participants evaluate whether buying demand can overcome the $2,000 resistance barrier.
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