Key Takeaways
- Accumulation wallets now hold 6.5 million more ETH compared to January, representing a 32% increase
- Total staked ETH reached an all-time high of 37.85 million, exceeding 30% of circulating supply
- One whale address accumulated $152.81 million worth of ETH during a three-day buying spree
- US-based spot ETH ETFs attracted $185.4 million in consecutive net inflows over three trading days
- Breaking through the $2,200 resistance could trigger a rally toward $2,600 and beyond
Ethereum currently trades in the $2,078–$2,090 range, approximately 30% lower than its $2,990 year-open price. This trading zone positions ETH directly beneath critical resistance between $2,100 and $2,200, a level that has limited upward movement throughout the past month.
While price action may appear subdued, blockchain metrics reveal substantial underlying strength.
Addresses classified as accumulation wallets — those with zero selling history — now hold 26.55 million ETH, up from 20.1 million on January 1. This represents an addition of 6.5 million ETH, marking a 32% expansion.
These accumulation addresses reached peak daily inflows of 1.14 million ETH during November 2025. Throughout 2026, average daily inflows have maintained 200,000 ETH, with Thursday recording a notable surge exceeding 350,000 ETH.
Staking Reaches Historic Peak Alongside Major Whale Activity
The amount of staked ETH climbed to an unprecedented 37.85 million this week. This milestone means over 30% of total ETH supply now sits in staking contracts. Increasing staked supply removes tokens from circulation and demonstrates commitment to long-term holding strategies.
ETH balances on centralized exchanges dropped to a multi-year minimum of 3.46 million, creating additional pressure on available liquidity.
Blockchain analytics platform Arkham identified a substantial wallet labeled “0x8E3” that acquired roughly $152.81 million in ETH during a three-day period. The entity controlling this wallet remains unconfirmed and could range from individual investors to institutional trading desks.
Large holders possessing between 10,000 and 100,000 ETH increased their collective positions by 540,000 ETH during the most recent five-day trading window, based on CryptoQuant metrics.
US spot Ethereum ETFs drew $185.4 million in net inflows spanning Tuesday through Thursday, according to SoSoValue tracking. The ETH Coinbase Premium Index simultaneously climbed to levels last observed in early December.
Critical Resistance and Support Zones
Ethereum’s open interest advanced to 13.67 million ETH on Friday, matching the highest reading since January 30. Funding rates have fluctuated between positive and negative territory throughout this timeframe.
ETH momentarily pushed above $2,166 before encountering rejection at the 50-day exponential moving average. Clearing this barrier would open pathways to $2,370, with subsequent targets at $2,750.
Trader Daan Crypto Trades highlighted that the $2,100–$2,200 zone has served as a pivotal area across the previous two years. When ETH successfully reclaimed this territory in May 2025, prices surged 24% within a week. The June 2025 breakout triggered a more dramatic 126% advance reaching $4,950.
Regarding downside scenarios, the $1,750–$1,850 region represents crucial support territory. Losing this foundation could expose ETH to potential declines toward $1,000, based on technical analyst projections. The Relative Strength Index currently registers 52, while the Stochastic Oscillator trends upward in the mid-60s range.
Daily active addresses expanded to 1.1 million during February, the strongest reading since December 2022, featuring a remarkable 7-day surge of 80% to reach 672,170.
