- A whale withdrew 7,347 ETH ($19.95M) from Binance, aligning with a 5% rise in large ETH holders.
- Ethereum’s TVL increased by 2% to $92B, and Binance trading volume spiked 15% to 1.2M ETH.
- Whale holdings rose to 43.61% in February, with 74.64% of ETH holders currently in profit.
Ethereum (ETH) is signaling a potential rebound, with analysts projecting a price surge between $4,000 and $8,000 in the coming months. On February 17, 2025, Lookonchain detected a significant Ethereum transaction, indicating a potential bullish sentiment among large investors. A newly created wallet withdrew 7,347 ETH, worth $19.95 million, from Binance.
According to Glassnode data, the movement aligns with a 5% rise in whale addresses holding over 1,000 ETH in the past week. Following the whale transaction, Ethereum’s market activity surged. The total value locked (TVL) in Ethereum-based DeFi protocols increased by 2% to $92 billion. Trading volume on Binance spiked by 15% within 24 hours, reaching 1.2 million ETH.
Ethereum’s Active Addresses and Volume Surge
Technical indicators suggest a growing bullish sentiment following the whale withdrawal. The Relative Strength Index (RSI) climbed from 62 to 68, indicating increased buying pressure. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, supporting the potential for further gains. Meanwhile, active Ethereum addresses rose by 4%, and transaction volume increased by 6%.
Ethereum has maintained a long-term ascending trendline despite recent price consolidation. Crypto General noted that the cryptocurrency remains within its bullish structure, respecting key support levels. Analyst Ted pointed out that Ether recently broke out of a symmetrical triangle pattern, historically signaling the start of an uptrend.
If ETH continues this bullish trajectory, key resistance levels at $4,104, $4,110, $4,817, and $6,082 could determine its next move. Analysts suggest surpassing these zones could propel ETH toward the $6,000 to $8,000 range. The cryptocurrency’s breakout from its consolidation phase further strengthens the argument for upward momentum.
Ethereum Whale Holdings Reach 43.61% in February
Ethereum’s Historical Concentration data shows increased holdings by whales and retail investors. As of February 2025, whales control 43.61% of ETH supply, while retail investors hold 45.8%. Over the past month, whale holdings have risen by 1.88%, and retail investors added 0.54%, signaling growing confidence in ETH’s long-term prospects.
The Global In/Out of the Money metric indicates that 74.64% of Ether holders are in profit at current prices. The largest accumulation zone lies between $2,257 and $2,578, establishing this range as a strong support level. Rising transaction activity and increased gas usage suggest growing network demand and market interest in ETH.
Analysts believe the cryptocurrency is poised for further gains, with Ether maintaining its bullish structure and increasing whale accumulation. If market conditions remain favorable and institutional interest rebounds, ETH could be on track to challenge key resistance levels and push toward higher price targets in the coming months.
Read More: Ethereum Whale Activity Sparks $100K Bullish Surge, Confidence Grows
