Ethereum Price Explodes 15% as Massive Buying Hits $2.55 Billion Mark
Ethereum's price has broken out of its prolonged consolidation range and surged 15% to reclaim $2,200. This sudden move was accompanied by massive buying, with a staggering $2.55 billion in taker volume pouring into the market within a single hour.
The large-wallet accumulation adds weight to this breakout, while ETH has cleared its short- and medium-term moving averages. The question now is whether buyers can absorb the $2,400-$2,500 supply zone and turn this sudden breakout into a much larger Ethereum price rally.
A key signal of buyer aggression was evident in the taker buy volume, which surpassed $2.55 billion in a single hour on August 19. This is the third-largest hourly burst seen in roughly 193 days, with only the $3.69 billion February 7 reading and $2.67 billion March 23 print being larger.
The recent price move above $2,200 also gained significance as large entities emerged on the buy side. Major market participants were linked to sizeable ETH purchases, including Wintermute buying 192,617 ETH, Moonwell purchasing 165,934 ETH, Coinbase acquiring 115,204 ETH, Binance buying 200,380 ETH, and OKX purchasing 97,180 ETH.