ETH Price Breaks Above $2.63K as Whale Activity Surges

Ethereum's price has broken above $2,630 after rising nearly 6% in 24 hours. The surge coincides with a significant increase in whale activity and network participation.

Rising whale transactions indicate large holders are becoming increasingly active as Ethereum pushes higher. However, it remains unclear whether these transactions represent buying or selling activity, requiring traders to distinguish between the two.

The Ethereum holder base has also reached a new high of 207 million non-empty wallets, according to Santiment data. This figure reflects wallet addresses rather than unique individuals or investors and measures network participation differently.