Ethereum Surges Past $2,700 as Whales Pour $106M Into ETH
Ethereum Price Clears $2,700 Behind Two Whales Pouring $106M Into ETH
Ethereum traded above $2,700 for the first time since Jan. 31 after two large holders committed a combined $106.4 million to ETH over the past five days, according to the provided snippets. The move came as Ethereum stabilized above a closely watched technical support zone around $2,600 following two prior failed attempts to reclaim that level.
The whale activity highlighted a continuing rotation among major crypto assets. Over the same five-day stretch, one whale sold 1,107 BTC worth $86.76 million on Hyperliquid and bought 34,422 ETH worth $86.5 million. The combined inflows from the two whales totaled $106.4 million, coinciding with ETH’s push through the $2,700 mark.
Price action also reflected a rebound from a trendline that has acted as support, helping ETH reclaim $2,600 after failing twice. Separately, market context around Ethereum investment products has been mixed: Ethereum ETFs recorded a $366 million net loss over two days in the period referenced, while large buyers were reported to be accumulating during the dip.
Technical commentary included in the source material described ETH consolidating in a pennant-like formation, with momentum indicators remaining constructive. The four-hour RSI was noted near 59, and ETH was described as holding above its rising 20-period EMA around $2,483. A breakout area was identified around $2,520–$2,540, while a potential downside risk point was described as a breakdown below rising support that could expose ETH to the 50-period EMA near $2,396.
Beyond near-term price levels, Ethereum’s longer-term backdrop continues to be shaped by ongoing network upgrades aimed at scaling and lowering costs. The material referenced Proto-Danksharding, introduced through upgrades such as Cancun-Deneb (March 2024), which reduces data costs and is particularly relevant for layer-2 networks that batch transactions onto Ethereum.
In that context, Ethereum’s latest move above $2,700 landed at a moment when on-chain whale positioning, ETF flow dynamics, and the network’s scaling roadmap are all influencing how investors interpret demand for ETH and the chain’s capacity trajectory.
