Ethereum Whale Stakes 112,000 ETH Worth $208 Million

Ethereum's price has been stuck in a narrow range between $1,850 and $1,950 for weeks, according to crypto analyst Daan Crypto Trades. Despite its bullish structure since June, ETH has failed to push through resistance.

A whale has been withdrawing significant amounts of Ethereum from exchanges over the past three weeks, with 112,000 ETH worth around $208 million pulled off in total. Every batch of this withdrawn ETH was staked immediately, suggesting long-term holding rather than short-term trading.

The current price structure suggests that a break above $1,950 could open the path to $2,100, while a drop below $1,850 risks exposing the $1,750 level. The whale's staking activity has pulled tokens out of active circulation, which traders often interpret as a sign of long-term holding.