TLDR
- Accumulation wallet holdings increased by 32% since early January, adding 6.5 million ETH to reserves
- Total staked ETH reached an all-time high of 37.85 million tokens, exceeding 30% of circulating supply
- Major whale address accumulated $152.81 million worth of ETH in a three-day buying spree
- US-based spot Ethereum ETFs saw combined net inflows of $185.4 million across three straight sessions
- Breaking above $2,200 resistance could trigger upside momentum toward $2,600 and beyond
Ethereum currently hovers between $2,078 and $2,090, representing approximately 30% below its year-opening price of $2,990. The digital asset remains stuck beneath a critical resistance band spanning $2,100 to $2,200 that has prevented upward movement throughout the last 30 days.
While price action appears subdued, blockchain metrics reveal significant accumulation happening beneath the surface.
ETH stored in accumulation-focused wallets — addresses with zero selling history — has expanded from 20.1 million to 26.55 million tokens since the start of January. This represents an addition of 6.5 million ETH, marking a 32% increase.
Daily flows into these holding addresses peaked at 1.14 million ETH during November 2025. Throughout 2026, the daily average stands at 200,000 ETH, with Thursday witnessing a surge beyond 350,000 ETH.
Record Staking and Whale Buying
The amount of staked ETH achieved an unprecedented milestone of 37.85 million tokens this week. This volume accounts for over 30% of Ethereum’s entire circulating supply. Increased staking activity removes tokens from liquid circulation and demonstrates conviction in long-term holding strategies.
ETH balances on centralized exchanges dropped to a multi-year bottom of 3.46 million, further constraining available liquidity across trading platforms.
A significant wallet address, labeled “0x8E3” on Arkham’s blockchain intelligence platform, accumulated roughly $152.81 million in ETH during a three-day window. The entity controlling this wallet remains unidentified and could represent a private whale, institutional player, or trading operation.
Large holders controlling between 10,000 and 100,000 ETH increased their positions by 540,000 ETH throughout the past five trading sessions, based on CryptoQuant analytics.
Spot Ethereum ETFs in the United States attracted $185.4 million in combined net inflows over three back-to-back days spanning Tuesday through Thursday, according to SoSoValue tracking. The ETH Coinbase Premium Index simultaneously climbed to levels not witnessed since early December.
Key Price Levels to Watch
Ethereum’s open interest expanded to 13.67 million ETH on Friday, marking the highest reading since January 30. Funding rates have oscillated between positive and negative territory throughout this timeframe.
ETH momentarily pierced above $2,166 before encountering rejection at the 50-day exponential moving average. Bulls must conquer this barrier and subsequently aim for $2,370, with $2,750 as the next major target.
Market analyst Daan Crypto Trades highlighted that the $2,100–$2,200 range has served as a pivotal zone throughout the previous two years. When ETH successfully recaptured this territory in May 2025, it delivered a 24% surge within one week. The June 2025 breakout catalyzed an impressive 126% rally culminating at $4,950.
On the bearish side, maintaining support between $1,750–$1,850 remains crucial. Losing this foundation could potentially drive ETH toward $1,000, per analyst projections. The Relative Strength Index currently reads 52 while the Stochastic Oscillator trends upward in the mid-60 range.
Daily active addresses climbed to 1.1 million throughout February, representing the highest activity since December 2022, with a dramatic 7-day surge of 80% reaching 672,170 addresses.
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