TLDR
- Accumulation wallet holdings have increased by 32% since the start of January, adding 6.5 million ETH to their balances
- Total staked Ethereum reached an unprecedented 37.85 million tokens, representing over 30% of circulating supply
- Major whale address deployed $152.81 million into ETH purchases across a three-day period
- United States spot Ethereum ETFs registered $185.4 million in combined net inflows during three straight trading sessions
- Bulls must successfully convert the $2,200 level into solid support to enable potential advance toward $2,600 and beyond
Currently, Ethereum is fluctuating within the $2,078–$2,090 range, approximately 30% down from its year-opening price of $2,990. This trading zone remains positioned just beneath a critical resistance barrier spanning $2,100 to $2,200 that has restricted upward movement throughout the previous month.
While price action has been subdued, blockchain metrics reveal a considerably more optimistic underlying trend.
Holdings within accumulation addresses — wallets that have demonstrated zero selling activity — have expanded from 20.1 million to 26.55 million ETH starting January 1. This represents an addition of 6.5 million ETH, marking a 32% increase.
Daily deposits into these accumulation addresses peaked at a historic 1.14 million ETH during November 2025. Throughout 2026, the daily average has maintained around 200,000 ETH, with Thursday witnessing a notable surge exceeding 350,000 ETH.
Record Staking and Whale Buying
The amount of staked Ethereum achieved an unprecedented milestone of 37.85 million tokens this week. This volume accounts for more than 30% of ETH’s entire circulating supply. Increasing staking participation diminishes available liquid supply and demonstrates long-term confidence from holders.
Exchange-held ETH declined to a multi-year bottom of 3.46 million, creating additional constraints on available trading liquidity.
A substantial wallet address, tracked as “0x8E3” through blockchain intelligence platform Arkham, acquired roughly $152.81 million worth of ETH during a three-day window. The entity controlling this wallet remains unidentified. Possibilities include a wealthy individual investor, institutional trading desk, or corporate entity.
Large holders possessing between 10,000 and 100,000 ETH accumulated an additional 540,000 ETH throughout the previous five trading sessions, based on CryptoQuant analytics.
Spot Ethereum exchange-traded funds in the United States attracted $185.4 million in combined net inflows spanning three consecutive days from Tuesday through Thursday, according to SoSoValue tracking. Additionally, the ETH Coinbase Premium Index advanced to its most elevated reading since early December.
Key Price Levels to Watch
Ethereum’s open interest expanded to 13.67 million ETH on Friday, marking the highest level observed since January 30. Funding rates have oscillated between positive and negative territory throughout this timeframe.
ETH momentarily pushed above $2,166 before encountering rejection at the 50-day exponential moving average. Breaking through this technical barrier is necessary before targeting $2,370, with subsequent objectives at $2,750.
Market analyst Daan Crypto Trades highlighted that the $2,100–$2,200 zone has functioned as a pivotal price region throughout the past two years. When ETH successfully reclaimed this territory in May 2025, it generated a 24% advance within less than a week. During June 2025, breakthrough above this level ignited a 126% surge reaching $4,950.
Regarding downside risk, the $1,750–$1,850 zone represents crucial support territory that must hold. A breakdown beneath these levels could potentially drive ETH toward $1,000, per analyst projections. The Relative Strength Index currently registers at 52 with an ascending Stochastic Oscillator positioned in the mid-60s range.
Daily active addresses climbed to 1.1 million during February, achieving the highest count since December 2022, with a 7-day increase of 80% reaching 672,170.
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