Whale Stakes 112,000 ETH Worth $208 Million

TLDR

• ETH is trading near $1,865.96, with a 24-hour volume of $7.53 billion and a market cap of $225.18 billion.
• Ethereum has held a bullish structure since June but remains stuck between $1,850 and $1,950.
• A wallet moved 19,000 ETH ($35.44 million) off Gemini and staked all of it.
• The same whale has pulled 112,000 ETH (about $208 million) off exchanges over three weeks.
• A break above $1,950 could open the path to $2,100; a drop below $1,850 risks $1,750.

Ethereum is trading at $1,865.96 at the time of writing. The token has a 24-hour trading volume of $7.53 billion and a market cap of $225.18 billion.

ETH has kept a bullish structure since June, but the climb has slowed. The price has spent weeks stuck in a narrow range.

Crypto analyst Daan Crypto Trades pointed this out in a post on X. He said Ethereum keeps printing higher lows, but buyers have not managed to push through resistance.

According to his post, ETH has traded between $1,850 and $1,950 for several weeks. Both levels are being watched closely by traders right now.

Whale Staking Activity

On-chain tracker Lookonchain shared data from Nazoku showing a wallet address, 0x2e80, moved 19,000 ETH off the Gemini exchange. That amount is worth close to $35.44 million.

The wallet staked the full amount right after the withdrawal. No portion of it was sold or moved elsewhere.

This move is part of a larger pattern. The same whale has withdrawn 112,000 ETH, worth roughly $208 million, from exchanges over the past three weeks.

Every batch of that ETH has gone straight into staking. None of it has returned to an exchange since.

Staking on this scale pulls tokens out of active circulation. Traders often read this as a sign of long-term holding rather than short-term trading.

Key Price Levels to Watch

$1,850 is currently acting as the main support level for ETH. $1,950 sits above it as the resistance ceiling traders are watching.

A move above $1,950 could open the door toward $2,100, based on the current price structure. A drop below $1,850 could expose the $1,750 level instead.

Bitcoin is also sitting in neutral territory at the moment. This is keeping the wider crypto market cautious rather than trending strongly in either direction.

ETH itself has moved little over the past 24 hours despite the whale activity. The price action remains flat even as staking numbers climb.

The most recent transfer, tracked by Lookonchain, moved 19,000 ETH off Gemini before it was staked. That single transaction pushed the three-week whale staking total to 112,000 ETH.