Ethereum Price Soars Above January High as Whale Transactions Surge

Ethereum's price has broken above $2,650, reaching its highest level since January, according to analytics platform Santiment.

This rally comes alongside increased whale transaction activity and a record number of wallets holding ETH. Santiment's chart shows Ethereum trading around $2,643 at its latest reading, while the number of non-empty wallets has reached a record 207.17 million.

The rising whale transaction count adds an important variable to consider. While it indicates greater large-transaction activity, it does not necessarily mean that whales are accumulating ETH.