On-chain data reveals aggressive accumulation by Ethereum whales. Two wallets, likely controlled by a single entity, purchased 6,358 ETH worth $11.59 million over the past two days. Another major wallet withdrew 4,948 ETH ($9.01 million) from a centralized exchange, bringing its total holdings to 49,407 ETH, currently valued at $84.3 million. In total, these key players secured 11,306 ETH for $20.59 million in a focused buying spree.
Exchange Supply Drops to 3-Week Low
CryptoQuant data shows Ethereum's Exchange Netflow has been negative for eight consecutive days, the longest such run in 2025. When more ETH leaves exchanges than enters, investors typically move funds to private wallets, signaling reduced near-term selling intent. The Exchange Supply Ratio has fallen to 0.13, the lowest in three weeks. Historically, this configuration often precedes upward price moves.
The Relative Strength Index (RSI) has stayed above the 50 mark for eight days, reinforcing accumulation pressure. ETH trades at $1,807, up 0.26% in 24 hours, and has held above $1,800 for three straight sessions.
$1,850 Resistance in Focus
Market analyst Ali Charts highlighted $1,850 as a key resistance level on social media. He indicated he would open a long position in ETH if price breaks above this threshold. Some strategists believe a close above $1,850 could shift overall sentiment.
Robinhood Chain Boosts ETH Utility
Robinhood recently launched Robinhood Chain, an Ethereum-based Layer-2 network that uses ETH as the primary token for transaction fees. So far, $141 million in ETH has been bridged to the chain, and over 500,000 wallet addresses have been activated. On its second day, the DEX volume on Robinhood Chain reached $877.56 million, surpassing both Ethereum mainnet and Base L2.
Robinhood operates in 120 countries and supports tokenized equity trading. Leon Waidmann, Research Director at Lisk, noted that Ethereum's TVL stands at $260 billion, exceeding its market cap of $210 billion, suggesting ETH may be undervalued. According to Rwa.xyz, Ethereum leads the Real World Assets segment with a 47% market share. Technical analysts stress that ETH's near-term direction depends on closing above the short-term moving average at $1,778.