Ethereum Whales Load Up as Price Drops Below $2,650

Ethereum's price has been affected by the recent market downturn, dropping to around $2,650. However, large investors have been accumulating ETH in significant numbers.

According to data from analyst Ali Martinez, over 320,000 ETH were acquired by these investors in the last week alone.

This surge in accumulation corresponds with a sharp increase in transactions on the Ethereum network with values exceeding $1 million, rising from 1,202 to 7,113, a jump of around 500%.

The biggest obstacle for ETH is reportedly the $2,750 region. If the price can break above and stay within this range, it could signal that buyers are in control.