The Ethereum (ETH) market is showing strong signs of accumulation at a critical price zone, drawing attention from analysts and investors alike. Recent on-chain data reveals that nearly 47% of Ethereum’s circulating supply has been acquired within a narrow price range—highlighting a major support level where confidence remains high despite broader market uncertainty.
This article explores the key price zone where massive accumulation is occurring, analyzes whale activity, and breaks down what this means for ETH’s future price trajectory.
The Critical Support Zone: $2,314 – $2,435
A pivotal development in Ethereum’s price structure has emerged between $2,314 and $2,435. Within this range, approximately 2.14 million wallet addresses have collectively acquired 51.67 million ETH—representing nearly 43% of the total circulating supply of 120.26 million ETH.
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This level is more than just a statistical observation; it reflects a psychological and financial floor where investors view Ethereum as fundamentally undervalued. When such a large portion of the supply is consolidated within a tight band, it creates a strong price anchor. Historically, such zones act as robust support levels because holders are less likely to sell below their average entry point.
The significance of this accumulation zone cannot be overstated. It suggests that a broad base of investors—from retail to institutional—believes Ethereum has long-term value at these levels. As a result, any downward pressure on price tends to be met with increased buying activity, effectively cushioning drops.
Whale Activity Signals Confidence
Large investors, commonly referred to as “whales,” are often early indicators of market sentiment. Recent chain analysis shows that whales are not only holding but actively accumulating ETH near the $2,300–$2,400 range.
On August 9, 2025, Lookonchain reported that a single wallet address, 0x78d0, purchased 1,800 ETH at an average price of $2,570**, spending approximately **$4.7 million. While this buy occurred slightly above the core support zone, it reflects continued confidence in ETH’s valuation.
More importantly, since May 2025, this same whale has accumulated 37,800 ETH worth around $99 million**, with an average purchase price of **$2,420—firmly within the key support band. This long-term accumulation pattern suggests strategic positioning rather than speculative trading.
Furthermore, during a recent dip when ETH briefly fell below $2,200**, whales collectively bought over **147,605 ETH**, valued at **$341 million. Such aggressive buying during pullbacks reinforces the idea that major players see lower prices as temporary and advantageous.
This behavior aligns with historical patterns where sustained whale accumulation precedes significant price rallies. Their actions signal trust in Ethereum’s fundamentals, including its role in decentralized finance (DeFi), NFTs, and upcoming network upgrades aimed at improving scalability and energy efficiency.
Current Price Action and Market Sentiment
As of the latest data, Ethereum is trading near $2,570**, showing relative stability over the past 24 hours. During the Asian trading session, ETH briefly touched an intraday high of **$2,700, indicating bullish momentum. However, gains softened slightly as U.S. markets opened, reflecting cautious sentiment among traders.
Notably, trading volume has declined by 10% over the same period. While lower volume can suggest reduced short-term interest or consolidation, it doesn’t necessarily indicate bearishness—especially when paired with strong on-chain accumulation.
In fact, periods of low volume following price dips are common before breakout moves. When combined with persistent whale buying, this setup could foreshadow a future surge once broader market conditions improve.
Frequently Asked Questions
Q: Why is the $2,314–$2,435 range so important for Ethereum?
A: This price zone represents where nearly 43% of Ethereum’s circulating supply was acquired. With so much ETH held by investors who bought in this range, it creates strong support—few are likely to sell at a loss, making it harder for price to drop below.
Q: What does whale accumulation mean for retail investors?
A: Whale buying often signals confidence in an asset’s long-term value. For retail investors, it can serve as a valuable indicator that institutional or high-net-worth players believe the market is oversold and poised for recovery.
Q: Is declining trading volume a bad sign for ETH?
A: Not necessarily. A drop in volume after a period of volatility typically indicates consolidation. If on-chain accumulation continues during low-volume phases, it may suggest “smart money” is quietly building positions ahead of a potential rally.
Q: How much Ethereum has been accumulated by whales recently?
A: In one recent example, a single whale bought 37,800 ETH since May 2025 at an average price of $2,420. During a dip below $2,200, whales collectively purchased over 147,605 ETH worth $341 million.
Q: Could Ethereum break above $3,000 soon?
A: While timing is uncertain, sustained accumulation at key levels and growing confidence in Ethereum’s ecosystem make a move above $3,000 increasingly plausible if macroeconomic conditions stabilize and demand increases.
What This Means for Ethereum’s Future
The combination of widespread holder support, strategic whale accumulation, and resilient price action paints an optimistic picture for Ethereum’s medium- to long-term outlook.
Even amid market-wide uncertainty over regulation, macroeconomic trends, and global liquidity, Ethereum continues to demonstrate strength through on-chain metrics. The fact that nearly half of its supply is tightly held within a well-defined price corridor suggests a floor is forming—one that could serve as a launchpad for the next upward cycle.
Moreover, ongoing developments like protocol upgrades, layer-2 scaling solutions, and expanding use cases in DeFi and AI-integrated blockchain applications continue to enhance Ethereum’s utility and investor appeal.
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Final Thoughts
Ethereum’s current market dynamics reveal more than just price movement—they reflect a deeper narrative of resilience and strategic positioning. With 47% of its supply acquired in a narrow band between $2,314 and $2,435, and whales consistently adding to their holdings during dips, ETH appears to be building a foundation for future growth.
For investors monitoring smart money flows and on-chain behavior, these signals offer valuable insight. While short-term volatility may persist, the long-term trajectory looks increasingly supported by fundamentals and holder conviction.
Whether you're a long-term holder or actively trading, understanding these accumulation patterns can help inform better decisions—and potentially position you ahead of the next major move.
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