ETH Breakout: Whales Wake Up, Ethereum Wallets Hit Record High

Ethereum (ETH) has broken out of its recent trading range after whale activity picked up and Ethereum wallets hit a record high.

According to Santiment Intelligence, ETH's rise past $2,600 was driven by returning whale activity, an impressive record for non-empty wallets, and broader developments on the staking front.

While large transfers can be both buys and sells, the actual price moves of the underlying asset leaned toward purchases, indicating rising on-chain demand, adoption, and positive sentiment for crypto and DeFi staking.