Ethereum Surges 26% to $2.5K Despite Whale Sell-Off of 1.7M ETH

Key Facts

Amid a significant recovery in digital asset markets, Ethereum's price surged by 26% to reach the $2,500 level. This rally was fueled by strong market momentum and record daily inflows into spot Ethereum ETFs, which helped the cryptocurrency overcome selling pressure from large-scale investors, or "whales," who offloaded approximately 1.7 million ETH.

Market analysis indicates that institutional players are betting on a continued recovery, with bullish options concentrated around the $2,900 and $3,000 strikes for September expiries. However, according to reports, there is only a 12% probability of ETH hitting the $3,000 mark during September, particularly as whale wallets holding over 1,000 ETH have trimmed their exposure by 2.9% since May.

Looking ahead, traders are watching for Ethereum's ability to maintain its current momentum to validate further upside, noting that specific price data is unavailable in the database as of August 22, 2026. For upcoming catalysts, investors should monitor global macro data, including Canadian inflation and U.S. manufacturing indices, which may influence broader risk sentiment in the crypto sector.