Ethereum’s Quiet Accumulation: Major Investors Build Positions Amid Price Stagnation

While Ethereum's price struggles to hold above the psychologically significant $3,000 level, a contrasting narrative is emerging from on-chain data. Institutional players appear to be leveraging the current weakness to accumulate substantial holdings. This activity suggests a divergence in perspective between large-scale investors and the broader market sentiment. In a notable move this Monday, the investment firm Trend Research added 11,520 ETH to its portfolio, signaling a clear vote of confidence during a period of general uncertainty.

Beneath the surface of a consolidating price, Ethereum's underlying network health is reaching new milestones. Fundamental metrics tell a story of robust growth and increasing adoption. The deployment of new smart contracts on the network hit an all-time high in the fourth quarter of 2025, with the 30-day average now standing at 171,000. This surge in developer activity is widely considered a leading indicator for future network utility and value.

Furthermore, the number of active addresses on the Ethereum blockchain has seen remarkable expansion this year, nearly doubling from approximately 396,000 to over 610,000. This growth is largely fueled by continued innovation in decentralized finance (DeFi) applications and the scaling solutions provided by Layer-2 networks. Adding to the supply-side dynamics, more ETH is now being moved into staking protocols than is being withdrawn for the first time in six months. This trend effectively reduces the liquid supply available on exchanges, creating a potential catalyst for upward price pressure in the medium term.

Price Action Trapped in a Narrow Range

Technically, ETH is currently confined to a tight trading band. The asset is oscillating between support near $2,960 and resistance at $2,980. A brief attempt to break decisively above the $3,000 threshold failed on Monday, mirroring Bitcoin's own rejection at the $90,000 level. The daily high of $3,050 proved unsustainable.

Should investors sell immediately? Or is it worth buying Ethereum?

The immediate technical landscape is well-defined. A firm resistance level sits at $3,050; a sustained breach above this point could open the path toward a next target around $3,345. On the downside, the $2,900 region has established itself as a strong support zone, attracting consistent buyer interest throughout the past week. Market participants seem to be bracing for a more significant move, evidenced by a sharp 40% increase in 24-hour trading volume to roughly $11 billion.

Smart Money Flows Signal Long-Term Confidence

The accumulation pattern is not isolated to a single entity. On-chain wallet tracking reveals that other sophisticated, large-scale addresses are also directing significant capital inflows while prices remain below $3,000. This cohort of investors is evidently positioning for a future where expectations of favorable interest rate adjustments and clearer regulatory guidelines in 2026 come to fruition.

Ethereum finds itself at a critical juncture. In the short term, its price movement remains volatile and largely tethered to Bitcoin's momentum. However, the strength of its network metrics combined with the strategic buying from major holders suggests a fundamental value that may not be reflected in the current spot price. The days ahead will determine whether support around $2,900 holds firm or if a conclusive breakout above $3,050 ignites a fresh wave of bullish momentum.