ETH Whales Accumulate Amid Price Pressure, $2,438 Target Looms

Ethereum whales have been adding to their holdings despite the price hovering near $1,963, up 4.3% in the last 24 hours.

According to Glassnode data, whale addresses holding between 1,000 and 10,000 ETH have climbed toward 4,850, reaching multi-month highs.

This accumulation comes after Ethereum broke its long-term descending trendline in mid-July. Spot ETH ETFs also posted a third straight week of inflows, adding $103.9 million in the week ending July 24.

However, active addresses remain near 400,000, far below the February 2026 spike near 800,000 and the June local peak of roughly 460,000.