TLDR
- Large Ethereum holders accumulated 320K ETH this week while smaller investors sold 210K ETH
- Daily active addresses reached 837,200, marking a 10-year record for network activity
- ETH price consolidates between $1,980 and $1,990, facing resistance at the $2,000 threshold
- Spot ETH ETFs in the United States recorded $38.6 million in net inflows on Monday
- Binance short position dominance decreased while ETH trades below critical moving averages
Ethereum continues trading near $1,980, encountering resistance at the psychologically significant $2,000 mark even as large holders accumulate and network metrics reach decade highs.
During the past seven days, addresses controlling between 10,000 and 100,000 ETH purchased 120,000 ETH between Sunday and Monday. Aggregate whale accumulation for the entire week totaled 320,000 ETH. Meanwhile, retail-sized wallets holding 100 to 10,000 ETH distributed approximately 210,000 ETH during the same period.
American investors maintained steady positioning throughout the week. The Coinbase Premium Index, measuring US buyer sentiment, remained in positive territory. Spot ETH ETFs in the United States recorded $38.6 million in net inflows on Monday, with all nine listed products showing zero outflows.
Binance futures data reveals a sharp decline in short position dominance for ETH throughout the week. This indicates reduced bearish positioning among active traders.
On-Chain Activity at a 10-Year High
Data from Santiment reveals Ethereum’s daily active address count climbed to 837,200, establishing a 10-year record. This figure represents an 82% increase compared to five years prior and exceeds levels from a decade ago by more than 1,100%.
📈 Ethereum has briefly regained the $2K level, and bulls & bears are currently battling as to whether the resistance gets broken for the long term. Based on 30-day averages, on-chain data indicates:
🏃 There are 837.2K active $ETH addresses per day (+82% compared to 5 years… pic.twitter.com/WfbaOx2jAo
— Santiment (@santimentfeed) March 3, 2026
Daily new wallet creation has similarly increased 64% over the past five years, currently averaging 284,800 new wallets. Historical patterns show surges in both metrics typically align with extended growth cycles for ETH.
The price has yet to reflect this activity. ETH continues trading below its 50-day EMA around $2,300 and its 200-day EMA near $2,945.
Price Levels to Watch
Ethereum saw $78.3 million in liquidations during the previous 24 hours. Long positions accounted for $48 million of this total.
$ETH got rejected from the $2,000 level again.
This is not a good sign and could push Ethereum towards the $1,850-$1,900 support zone. pic.twitter.com/81fzC0ejat
— Ted (@TedPillows) March 3, 2026
The RSI currently reads around 43, indicating subdued momentum while staying outside oversold territory. Immediate resistance levels appear at $2,020, $2,050, and $2,080. A successful breach above $2,120 would potentially clear the path toward $2,200.
Support zones emerge near $1,960, followed by $1,932. A decline beneath $1,895 could drive ETH toward $1,850 or potentially $1,820.
Glassnode analytics indicate substantial accumulation activity around $1,800, with approximately 1.23 million ETH acquired at an average price of $1,890 during the past 30 days.
CoinGlass metrics show long liquidation exposure concentrated between $1,900 and $1,950. Short liquidation pressure intensifies above $2,000.
ETH’s present price near $1,990 positions the asset squarely within this compressed volatility zone.
