Ethereum Breaks Above $2.63K Amid Record Whale Activity and Holder Base Expansion

Ethereum has reached its highest market value since January, breaking above $2.63K on Friday. This price breakout is accompanied by a surge in large Ethereum transactions, indicating increased activity from whales.

According to Santiment analysts, the number of large Ethereum transactions is rising as the asset's price increases. The platform also recorded a record 207.17 million wallets with a non-zero balance, showing an expansion in Ethereum's holder base alongside the price growth.

The DeFi sector remains another source of demand for Ethereum, accounting for around $50 billion in TVL in decentralized finance, including lending markets, DEXs, stablecoins, and liquid staking. Staking also continues to support long-term holding, with over 40 million ETH currently staked.