Ethereum (ETH) Price: Accumulation Wallets, ETF Inflows and Whale Buying Point to Bullish Momentum

TLDR

• ETH held in accumulation wallets has risen 32% since January, adding 6.5 million ETH
• Staked ETH hit a record 37.85 million, over 30% of total supply
• A whale wallet spent $152.81 million on ETH over three days
• US spot ETH ETFs recorded $185.4 million in net inflows over three consecutive days
• ETH bulls need to flip $2,200 into support to open up a move toward $2,600+

Ethereum is trading around $2,078–$2,090, roughly 30% below its yearly open of $2,990. The current price range sits just below a key resistance zone between $2,100 and $2,200 that has capped gains for the past month.

Despite the price decline, on-chain data shows a different picture under the surface.

ETH held in accumulation wallets — addresses with no history of selling — has climbed from 20.1 million to 26.55 million ETH since January 1. That is a gain of 6.5 million ETH, or 32%.

Daily inflows into these addresses hit a record 1.14 million ETH in November 2025. In 2026, the average has been 200,000 ETH per day, with a spike above 350,000 ETH on Thursday.

Record Staking and Whale Buying

Staked ETH reached a new all-time high of 37.85 million this week. That figure represents more than 30% of the total ETH supply. A rising staked supply reduces liquid supply and signals longer-term holding intent.

ETH held on exchanges fell to a multi-year low of 3.46 million, tightening order book liquidity further.

A large wallet, identified as “0x8E3” on blockchain analytics platform Arkham, bought approximately $152.81 million in ETH over three days. The identity behind the wallet is not known. It could be a private investor, a trading firm, or an institution.

Whale wallets holding between 10,000 and 100,000 ETH added 540,000 ETH to their holdings over the past five trading days, according to CryptoQuant data.

US spot ETH ETFs recorded $185.4 million in net inflows across three consecutive days from Tuesday to Thursday, per SoSoValue data. The ETH Coinbase Premium Index also rose to its highest level since early December.

Key Price Levels to Watch

Ethereum’s open interest climbed to 13.67 million ETH on Friday, the highest since January 30. Funding rates have alternated between positive and negative during that period.

ETH briefly broke above $2,166 before being rejected at the 50-day EMA. It needs to clear that level and then target $2,370, followed by $2,750.

Analyst Daan Crypto Trades noted that $2,100–$2,200 has been a key price area over the past two years. When ETH last reclaimed this zone in May 2025, it rallied 24% in under a week. In June 2025, it launched a 126% rally to $4,950.

On the downside, $1,750–$1,850 is the key support to hold. A break below that level could push ETH as low as $1,000, according to analyst commentary. The RSI sits at 52 with a rising Stochastic Oscillator in the mid-60s.

Daily active addresses rose to 1.1 million in February, the highest since December 2022, with a 7-day jump of 80% to 672,170.

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