TLDR
- A whale bought 10,000 ETH ($19.1M) in one day, following a $52M purchase two weeks prior
- Whale cohorts (10K–100K ETH) added 5.6 million ETH since mid-2025
- ETH trades at ~$1,912, below its realized price of ~$2,450
- Spot Ethereum ETFs recorded $60.86M in daily net inflows, with cumulative inflows topping $11.3B
- CryptoQuant analysts suggest the bear market is likely in its final stage
Ethereum is holding above $1,900 as large investors continue to buy while smaller holders sell. On-chain data and ETF flows both point to growing institutional and whale demand at current price levels.
According to blockchain analytics platform Lookonchain, an OTC whale bought another 10,000 ETH worth $19.1 million in a single day. The same wallet had purchased 27,000 ETH ($52.03M) just two weeks earlier. Large buyers often use the over-the-counter market to avoid moving prices on exchanges.
OTC whale 0x8c58 bought another 10,000 $ETH ($19.1M) today.
Two weeks ago, the whale also bought 27,000 $ETH ($52.03M).https://t.co/TMKhX20QDr pic.twitter.com/QLkr1S0rAs
— Lookonchain (@lookonchain) August 6, 2026
CryptoQuant data shows the 1K–10K ETH cohort dropped from 15.6 million ETH in January to roughly 12.9 million ETH. That supply has largely moved to larger wallets.
The 10K–100K ETH cohort added 5.6 million ETH since mid-2025, growing from 14 million to 19.6 million ETH. Mega-whales holding 100K+ ETH also saw net inflows of 1.8 million ETH over the same period.
“The largest holders are absorbing the supply that smaller wallets are releasing,” CryptoQuant wrote in its report.
ETH is currently trading around $1,912, well below its realized price of approximately $2,450. CryptoQuant noted that ETH bottomed in early 2025 at a similar price level relative to its realized price band.
ETF Inflows Add Institutional Weight
Spot Ethereum ETFs recorded $60.86 million in daily net inflows, according to SoSoValue data. Cumulative net inflows have now crossed $11.3 billion, reflecting continued institutional demand.
Bitcoin Spot ETFs Record $129 Million in Net Inflows on August 6, Marking Four Straight Days of Inflows
On August 6 (ET), Bitcoin spot ETFs recorded total net inflows of $129 million, marking four consecutive days of net inflows. Ethereum spot ETFs recorded total net inflows of… pic.twitter.com/GS4MZVjka2
— Wu Blockchain (@WuBlockchain) August 7, 2026
Open interest in Ethereum’s derivatives market sits near $26 billion, according to CoinGlass. Trading volume also remains healthy, suggesting market participation has not dropped off following recent price moves.
The RSI stands around 56, indicating positive momentum without entering overbought territory.
Where ETH Stands Technically
On the daily chart, Ethereum holds above its 20-day EMA at $1,876 and 50-day EMA at $1,855. The 100-day EMA at $1,926 is the immediate resistance level.
A break above $1,926 could open the path toward $1,961, then $2,172. The 200-day moving average near $2,068 is another key level traders are watching.
Analyst Michaël van de Poppe posted on X that it’s “a matter of time until this breakout happens” and that ETH trends to $2,300–$2,500.
A matter of time until this breakout happens and $ETH trends to $2,300-2,500. pic.twitter.com/hVQvAuqu5j
— Michaël van de Poppe (@CryptoMichNL) August 6, 2026
CryptoQuant analysts concluded that large holder accumulation across ETH, BTC, and XRP signals the bear market is likely in its final stage, though they noted valuations leave room for one more leg lower before a floor is confirmed.
Daily liquidations over the past 24 hours totaled $15.14 million, with long liquidations leading at $8.55 million.
Be the first to comment