Data: ETH Whales Accumulate 2M ETH in February, Whale Positions Over $2B in Shorts Above $2000

On February 25, CryptoQuant data shows the average size of whale sell orders on Binance has dropped from roughly 2,250 ETH in early January to around 1,350 ETH recently. With 15 to 35 whale-level trades daily, cumulative sell volume since January 8 is estimated at 1.8 million to 2 million ETH. At an average $2,400 price point, this translates to $4.3 billion to $4.8 billion in total transactions. Analyst Darkfost notes the shrinking average order size signals “large participants are gradually exiting.” While small traders keep steady trading volume, big players are cutting direct order book interactions. This shift has temporarily weakened market depth, reducing ETH’s ability to handle short-term price imbalances. Meanwhile, ETH accumulation addresses added over 2.5 million ETH during February’s 20% price drop. Their total holdings rose from 22 million ETH at the year’s start to 26.7 million, highlighting stable underlying demand. Futures liquidation data shows $2 billion+ in short positions clustered near $2,000, forming a dense liquidity zone that could act as a short-term price magnet for ETH. If ETH falls to $1,600, ~$682 million in long positions will face risk.