Ethereum whale activity drops 86% as price stalls near $1,700

Large‑holder (whale) transactions on the Ethereum network fell sharply, decreasing by about 86.6% from 2,194 transactions on June 5 to only 294. The drop coincided with a decline in futures open interest, which fell roughly 31% to $10.3 billion from a month‑earlier $15 billion. At the same time, Binance recorded net inflows of about 57,700 ETH, a flow often viewed as potential selling pressure, while the estimated leverage ratio slipped to 0.83 from a recent high of 1.10.

Ethereum’s price hovered near $1,750, briefly testing the $1,800 resistance before retreating. Despite reduced whale participation, bullish trader sentiment remained high, with long positions still outnumbering shorts on major exchanges. Technical indicators show modest upside momentum, but sustained buying will be needed for a breakout above $1,800.