Ethereum holds firm as whale accumulation offsets weaker trading volumes
Large holders continue to withdraw Ethereum from exchanges and move their assets into staking, supporting the accumulation trend. Meanwhile, declining trading volumes and volatility increase the probability of a sharp move from the $1,850 level.
Large holders continue to increase their Ethereum positions through staking. Whale withdrew another 19,000 ETH, worth approximately $35.44 million, from Gemini and transferred the assets into staking. Over the past three weeks, the total volume of such transactions has reached 112,000 ETH, valued at around $208 million.
Additional support for market sentiment came from BitMine, which is associated with Tom Lee. The company staked another 150,120 ETH, worth approximately $278 million. As a result, its total staked holdings reached 5,067,309 ETH, representing 87.4% of the company’s entire Ethereum reserves.
Ethereum awaits a decisive move near $1,850
ETH continues to trade near important support at $1,850. As noted previously, a break and sustained move below this level could trigger a decline toward the 50-day moving average near $1,780.Trading volumes remain low, preventing the price from developing a decisive impulse in either direction.
At the same time, 30-day realized volatility continued to decline, reaching 1.80%. Such low readings have historically been followed by strong directional moves.
Falling trading volumes raise volatility risks for Ethereum
Total weekly trading volume across the largest cryptocurrency exchanges declined by another $15 billion, reaching its lowest level in the past year. Compared with the January peak, the figure has fallen by approximately 70%, indicating a significant decline in market activity.Low liquidity limits the probability of a sustainable price impulse while simultaneously increasing Ethereum’s sensitivity to large transactions and external catalysts. Against this backdrop, a breakout from ETH’s current range could be accompanied by a sharp increase in volatility.
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