Ethereum climbed 2.5% after on-chain data showed heavy buying from large holders. Over the past seven days, wallets focused on accumulation purchased more than 1.11 million ETH, marking the strongest accumulation phase seen so far in 2026. At the same time, exchanges logged a net inflow of 178,900 ETH, a figure some analysts read as a sign that part of the market may be preparing to sell.
Lookonchain Flags 3,000 ETH Purchase Linked to Arthur Hayes
On June 15, blockchain tracking service Lookonchain reported that a wallet believed to be connected to Arthur Hayes received 3,000 ETH through liquidity provider Flowdesk. The transaction was valued at about $5.42 million. The source material describes Flowdesk as a market maker that provides liquidity services for institutional clients and supports digital asset trading flows.
The purchase stood out because it contrasted with Hayes’s recent portfolio activity. In prior weeks, he had reportedly reduced exposure to Hyperliquid, Near Protocol, Worldcoin, and Zcash, while keeping Bitcoin and Ethereum as core holdings. In a recent market comment, Hayes said ETH could reach a $10,000 to $20,000 range before the current cycle ends.
Peace Framework Headlines Lift Risk Assets
The wallet activity arrived alongside a geopolitical headline. US President Donald Trump announced a peace framework between the United States and Iran. As part of that announcement, the reopening of the Strait of Hormuz was approved, and an official signing ceremony was scheduled for June 19 in Switzerland.
Markets reacted quickly. Bitcoin rose 3.5% to $66,570, while the total cryptocurrency market capitalization added 2% over 24 hours. Oil moved the other way, falling 5.13% to $80.53 per barrel. That backdrop helped push Ethereum back toward a closely watched trading area.
Traders Watch the $1,739 and $1,750 Levels
Analyst DaanCrypto said Ethereum was trying to reclaim its February highs. He argued that the move needs a daily close above current levels and price stability there before the uptrend can gain strength. In the short term, he identified $1,750 as the key level to monitor.
Other market watchers pointed to a supply zone between $1,680 and $1,700. A clear close above $1,739 is seen as supportive for momentum, with the next major resistance sitting in the $1,800 to $1,850 range. On the downside, support is placed between $1,620 and $1,665. Ethereum’s current trading zone was described as being around $1,700.
On a broader timeline, Ethereum posted losses in the last quarter of 2025 and the first quarter of 2026. The decline for the current quarter stands at 18.4%. Even with that weak backdrop, the rise in on-chain activity and the scale of whale accumulation show that traders are still searching for short-term direction.