Arthur Hayes is back in the Ethereum game, and his latest moves are sending ripples through the crypto community. On-chain data reveals that Hayes acquired an impressive 1,332.5 ETH in a single transaction valued at approximately $2.53 million, averaging near $1,899 per ETH. This purchase marks a significant step in his strategic re-entry, following a series of earlier transactions in July.
Earlier this month, Hayes had already made waves by purchasing around 646 ETH through a USDC transfer with Galaxy Digital and another 1,293 ETH for roughly $2.48 million. Cumulatively, his July acquisitions now exceed 3,270 ETH, translating to a total investment near $6.2 million.
These moves come on the heels of a challenging June for Hayes, during which he sold off 6,000 ETH at a loss, realizing an estimated $606,000 deficit. However, as Ethereum prices retreated, Hayes seized the opportunity to re-accumulate, signaling a bullish outlook.
Analysts are closely monitoring Ethereum’s performance, especially as it attempts to break out of a persistent resistance zone. Daan Crypto Trades noted significant movements, highlighting that ETH has recently closed above its Bull Market Support Band for the first time since late 2025. He emphasizes the need for bullish follow-through, suggesting that a breakout above the 0.03 ETH/BTC ratio could indicate sustained upward momentum.
Staking Supply Hits Record High
In addition to individual trading activities, Ethereum’s staking ratio has hit a record high of 33.9% of its circulating supply, with approximately 40.9 million ETH now staked with validators. Over 2.47 million ETH currently sits in the entry queue, with an estimated wait time of 43 days to enter staking, while the exit queue remains at zero. The staking annual percentage rate (APR) stands at about 2.64%, indicating a strong incentive for holders to stake rather than trade their ETH.
Whale Activity Pulls ETH Off Exchanges
Market dynamics are further shifting as large holders—often referred to as “whales”—are withdrawing significant amounts of ETH from exchanges. Recently, three new wallets collectively withdrew 30,000 ETH, valued at close to $58 million, from Coinbase Prime. This trend of moving ETH off exchanges, particularly from platforms like Binance and Gemini, is indicative of a broader strategy to reduce available supply on order books, thereby potentially limiting selling pressure during periods of increased demand.
ETH Price and Key Levels
As of now, ETH is trading above the $1,900 mark, oscillating between approximately $1,852 and $1,950. Analysts identify resistance levels between $1,963 and $2,000. Notably, Ali Martinez has pointed out that a decisive daily close above $2,000 could pave the way for prices to climb to the $2,060 range, with further targets set towards $2,150 and $2,200.
Support levels are currently situated near $1,850 to $1,870. A daily close below $1,850 might trigger a revisit of the $1,700 to $1,750 range. Market data indicates significant liquidation exposure above $1,968; a break above this threshold could compel short sellers to close their positions, potentially leading to a surge in buying activity.
As the market anticipates further developments, ETH is currently hovering just above $1,900, testing the waters to see if buyers can push through the critical $2,000 resistance.
