Ethereum Price Soars Past $2,700 as Whales Stake Huge Holdings

A recent rotation by two whales has significantly impacted Ethereum's price, which has cleared $2,700. The first whale sold 1,107 BTC worth $86.76 million on Hyperliquid and bought 34,422 ETH worth $86.5 million before staking the lot.

Staking is key here, as the coins sent to validators did not sit on an exchange ready to be dumped, suggesting a medium-term bet.

A second buyer made smaller but notable moves, transferring three clusters around September 21st. The wallet (0x4cee) sent 20 million USDC to Binance and came back with 10,501 ETH at about $1,904 on July 21.

The Scammers Showed Up Within Minutes: within minutes of the real deposits, the wallet's history was filled with fake transfers. More than two dozen lookalike token contracts spoofed 'USDC' and 'ETH', but every real transfer went to the right address.