Ethereum: BlackRock buys $149mln of ETH, but sellers guard THIS zone
On-chain data reveals significant Ethereum accumulation and staking activity, with whales and institutions like BlackRock actively participating. A notable whale moved $31.7 million into staked ETH (stETH), locking over 40,000 tokens, while BlackRock acquired 46,851 ETH worth nearly $149 million over three days. BitMine also staked an additional 19,200 ETH. These actions, along with persistent exchange outflows exceeding $52.3 million, are reducing sell-side pressure and tightening circulating supply. Despite this, ETH price remains range-bound between $2,780–$2,850 (demand) and $3,300–$3,350 (supply), showing stability without sharp moves. Declining Open Interest indicates leverage unwinding and reduced volatility, shifting the market from speculation to positioning. The overall structure suggests limited downside risk and favors continued accumulation-driven stability.
ambcrypto01/08 21:01