Ethereum price rally pushed ETH above $2,430 on Friday. This is its highest price in roughly four months.
US spot ETFs absorbed their largest daily inflow since October. Whales also pulled fresh supply off Binance.
Why Ethereum price rally matters
The altcoin gained 29% over the past week. At press time, ETH traded at $2,422. Nevertheless, not every large holder is buying.
Ethereum ETF demand hits a 10-month peak
US-listed Ethereum ETFs took in $220.77 million on August 20. This is the strongest daily haul since October 28, 2025.
The inflow capped a four-day run of positive flows. The total reached $512.25 million. Demand accelerated through the stretch. It climbed from $30.85 million on August 17.
Total net assets across the funds reached $13.58 billion. This is the highest since May 11. Cumulative net inflows now stand at $11.97 billion.
The strength extends beyond Ethereum. Bitcoin also surged to $79,000 for the first time since mid-May.
Whales split as Ethereum rallies
On-chain data shows large holders moving in both directions. Lookonchain flagged wallet 0x2d59 withdrawing 30,000 ETH from Binance. This was worth $67.42 million.
This wallet has now taken 120,000 ETH off the exchange over three weeks. The total value is $237.7 million. Abraxas Capital withdrew another 18,000 ETH worth $39.56 million.
A newly created wallet, 0x2261, moved out 6,704 ETH worth $14 million from the same exchange.
Nevertheless, sellers are just as active. According to Lookonchain, 7 Siblings offloaded 14,000 ETH for $32.85 million. The average price was $2,346.
Wallet 0xFD10 swapped 11,252 stETH and 1,824 ETH. It converted them into 30.78 million Tether. Whale 0x4cee booked a $1.76 million profit on 5,250 ETH.
Exchange outflows point to accumulation. The selling shows conviction is far from uniform above $2,400 nevertheless.