Ethereum Clears $2,600 Supported by Whale Transfers and Network Staking

Ether reached its highest level since January as active wallet counts reached a record 207.17 million alongside 40 million staked tokens.

19 September 2026 · +4

Ethereum traded above the $2,600 threshold, marking its highest price level since January according to data from Santiment. The move higher coincided with an uptick in whale transactions, signaling increased activity from large holders during the current market rally.

Network metrics also pointed to wider address participation, with non-empty Ethereum wallets climbing to a record high of 207.17 million. However, the analysis notes that growth in wallet numbers does not automatically guarantee immediate spot buying demand.

Underlying network utility continues to be driven by staking and decentralized finance protocols. More than 40 million ETH is currently locked in staking contracts, constraining circulating market supply, while Ethereum's DeFi ecosystem maintains approximately $50 billion in total value locked. Technical chart analysis cited in the piece identifies a previous double-bottom base between $1,600 and $1,700, with the $2,800 to $3,000 range functioning as the next major resistance band.

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