Ethereum Whales bought more than US$44 million in ETH, and large players resumed increasing their holdings.
Ethereum Whales have purchased ETH worth more than US$44 million, and one of the large players pledged 12,800 ETH from Binanticoin. Strong spot capital inflows and renewed increases in holdings helped Ethereum recover to around $1950. Ethereum prices remain above the 50-day and 200-day moving averages, which provides technical support.
Whale buying activity accelerates
According to Lookonchain monitoring, the address 0x4cee returned after three months of silence, and used 20 million USDC to buy 10,501 ETH units. At the same time, a newly created address 0xf23c extracted 12,800 ETH pieces from Binance, worth approximately US$24.47 million. The new address immediately pledged the entire Ethereum balance. These two transactions suggest that large players continue to increase their holdings even as Ethereum trading is near recent highs.
At the same time, exchange traffic data showed that buying pressure has increased over the past two weeks. On July 14, spot capital inflows reached approximately US$82 million, the largest single-day inflow during the statistical period. Then on July 15, as Ethereum climbed above $1900, there was an additional inflow of $20 million to $40 million.
Spot funds continue to support prices
However, the market experienced a brief period of selling pressure between July 16 and 18. During this period, there were several outflows of approximately US$28 million, US$32 million and nearly US$35 million per hour, causing the Ethereum price to fall back to the US$1820 region.
Even so, buyers continue to enter during the price correction process. New capital inflows continued to offset selling activity, allowing Ethereum to steadily recover in subsequent trading sessions.
Between July 19 and 21, Ethereum prices rose again with several peak inflows of US$20 million to US$30 million. Although there are still intermittent capital outflows, Ethereum eventually approaches the $1950 level.
Technical trends remain positive
Looking at the broader price chart, momentum is also improving. Ethereum is currently trading around $1938 while remaining above its 50-day moving averages (approximately $1861) and 200-day moving averages (approximately $1737).
It is worth noting that after shrinking trading volumes in early June, trading volumes have increased during the recent price rise. The rebound came after prices continued to fall from above $3000 earlier this year, before buyers regained control in late June.
According to the chart,$1900 currently constitutes direct support, while the resistance level is near the psychological level of $2000, followed by the $2150 to $2200 range.

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