Ethereum
Large-Holder Activity Accelerates Ethereum's Quick Move Toward Key Resistance
Ethereum posted a rapid 10% advance as large wallet transactions rose following the release of August inflation figures.
Ethereum advanced 10% within a two-hour window, climbing from $2,433 to $2,667 alongside a sharp pickup in large-scale trading volume. On-chain metrics from Santiment Intelligence showed transactions valued above $1 million increased by nearly 14%, indicating substantial whale activity coinciding with the release of August CPI data showing a 3.4% annual inflation rate.
The rapid price move highlights concentrated accumulation by larger capital allocators following the macroeconomic update. Technical commentary cited in the piece noted that Ethereum subsequently approached an interim target near $2,740.
Despite the upward momentum, on-chain data from Glassnode indicates that over 10 million ETH was historically transacted between $2,700 and $2,800, creating a significant supply zone that may act as resistance.
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