Ethereum finds itself at a curious crossroads. While recent price corrections have dampened market sentiment, a closer look at blockchain activity reveals a contrasting narrative: significant investors appear to be using this period of weakness to accumulate. This divergence raises questions about the underlying confidence of major market players.
Data from the on-chain analytics firm CryptoQuant highlights a dramatic shift in behavior among the largest Ethereum addresses. Between February 9th and 12th, wallets holding between 100,000 and 1 million ETH collectively sold approximately 1.3 million ETH, placing noticeable downward pressure on the market.
However, a near-complete reversal unfolded in the subsequent 48 hours. The same cohort of major holders reportedly bought back around 1.25 million ETH. Market observers cited by MEXC News interpret this back-and-forth as a “mixed signal.” Ultimately, it suggests that these substantial investors view the $2,000 price level as a critical zone, opting to stabilize the asset rather than continue selling.
Adding to this dynamic is a report from TipRanks indicating that Harvard University initiated a new position in Ethereum on Monday. The exact size of the endowment fund’s investment remains undisclosed.
Nevertheless, the symbolic impact is significant. When one of the world’s most financially robust academic institutions enters the market during a phase of uncertainty, it can be interpreted as a sign of enduring institutional confidence in Ethereum’s long-term prospects. This occurs despite the absence of a clear short-term bullish catalyst for the price.
Should investors sell immediately? Or is it worth buying Ethereum?
A striking contrast exists between the substantial movements by large holders and the relatively subdued trading on public exchanges. Spot market activity remained notably muted; on Monday, daily volume on Binance was around 486,000 ETH, sitting well below its 30-day average.
Analysts often read falling prices without a corresponding surge in selling volume as a sign of consolidation. The theory is that instead of panic-driven selling, a transfer of assets is occurring — moving from short-term traders to investors with a longer-term horizon.
Key Developments at a Glance:
* Major wallets executed significant sales, followed by buybacks of nearly equal volume.
* Harvard University is reported to have established a new ETH position (size unknown).
* Spot trading volumes stayed relatively calm, suggesting a lack of acute selling pressure.
Concurrently, internal developments are underway within the Ethereum ecosystem. According to CoinDesk, a leadership change is occurring at the Ethereum Foundation as Co-Executive Director Tomasz Stańczak departs his role. Meanwhile, co-founder Vitalik Buterin continues to advance technical discussions, recently outlining how Ethereum could serve as a neutral settlement layer for future artificial intelligence networks.
The current price action fits this broader picture. Trading at $1,967.18, Ethereum has declined 40.51% over the past 30 days. It is precisely within this period of weakness that the recent accumulation by large investors emerges as a potential stabilizing force around the psychologically important $2,000 threshold.
