Ethereum gained 6.5% over 24 hours to reach $2,618.67, a price level not seen since January 2026. The rally occurred as the global cryptocurrency market cap climbed to $2.88 trillion, rising 4.6% alongside gains in Bitcoin and several altcoins.
The advance came despite headwinds in traditional markets. The Federal Reserve raised interest rates by 25 basis points, the Bank of Japan also tightened policy, and the U.S. Dollar Index moved above 100. Additionally, the CLARITY Act failed to advance in the Senate during the same period.
On-Chain Strength
Ethereum's price movement was accompanied by notable on-chain activity. Whale transactions surged while the holder base expanded to a record 207.17 million non-empty wallets. Over 40 million ETH is currently staked, removing a significant portion from immediately available market supply.
The Ethereum network maintains substantial decentralized finance activity, with approximately $50 billion in total value locked across lending platforms, decentralized exchanges, stablecoin applications, and liquid-staking protocols.
ETF Inflows and Altcoin Movements
Ethereum ETFs recorded $143.7 million in inflows, reversing a three-day outflow streak. Beyond Ethereum, Bitcoin moved above $80,000, while several altcoins recorded significant gains. Solana and Hyperliquid rose more than 10%, and Uniswap gained approximately 16%.
Foundation Transfer
The Ethereum Foundation transferred approximately $2.45 million worth of ETH to an unlabeled Gnosis Safe wallet. Because the receiving wallet is unlabeled, it remains unclear whether it is directly controlled by the Foundation or another entity. On-chain data shows the Foundation still holds approximately $235.46 million worth of ETH and $23 million in USDC.
