Ethereum Price Hits $2,800 Again, Whale Transactions Surge Amid Accumulation Signs

Ethereum's price has hit the $2,800 mark again, but the on-chain signals indicate that the battle beneath the surface is getting more intense. Large ETH transactions have surged, older coins are moving again, and exchange-held supply continues to trend lower.

Whale transactions, in particular, have recorded sharp spikes as ETH approached the $2,800 region. Age Consumed, which measures the number of days since the last transaction, has also shown a similar burst of activity. This indicates that previously dormant ETH has started changing addresses again.

Recent large-wallet purchases also show fresh demand near the $2,700-$2,800 region. For example, an ICO-era wallet bought 8,492.8 ETH for roughly $23.7 million at around $2,794, while another whale accumulated 1,486 ETH for about $4 million near $2,710.

The 30-day MVRV (Market Value to Realized Value) has recovered slightly alongside ETH's move back toward $2,800, showing that recent holders are moving deeper into unrealized profit as price rises. However, weighted sentiment has weakened after several failed attempts to sustain a breakout.