Coin Newsweek – February 25, 2026 – Ethereum has staged a powerful rally over the past 24 hours, climbing 9.8% to trade at $2,030 as the broader cryptocurrency market shows signs of recovery. The move outpaces the overall market, which gained approximately 3.3% during the same period.
Despite the price recovery, on-chain data reveals a complex picture of diverging strategies among major holders. While some large investors continue to accumulate, others—including Ethereum co-founder Vitalik Buterin—are reducing exposure, highlighting persistent uncertainty despite the recent upside momentum.
Chart 1: Ethereum 1-hour chart showing price action, EMA levels, and RSI indicator (Source: TradingView)
Vitalik Buterin Continues Strategic Selling
According to blockchain analytics platform Lookonchain, Ethereum co-founder Vitalik Buterin has continued his programmed selling of ETH. Recent data shows Buterin sold an additional 675.88 ETH in the past days, bringing his total sales over the last month to 11,422 ETH—approximately $23.33 million in value.
These sales follow Buterin’s earlier announcement that he had withdrawn 16,384 ETH and planned to strategically use these tokens for long-term objectives over the coming years. Lookonchain noted that “approximately 70% of the targeted 16,384 ETH has now been sold.”
Data from Arkham Intelligence confirms the process remains ongoing, with new ETH transfers continuing from wallets associated with Buterin.
Institutional Divergence: FG Nexus Sells, BitMine Buys
In another significant development, Lookonchain reported that treasury company FG Nexus transferred 7,550 ETH (approximately $14.06 million) to Galaxy Digital. This move follows a period of accumulation last year—between August and September 2025, the treasury company had purchased 50,770 ETH at an average price of $3,860.
The company has since reversed this strategy, selling a portion of its position. Data shows FG Nexus has now disposed of 21,025 ETH at an average price of $2,649, while still holding 30,094 ETH valued at approximately $57.5 million. Lookonchain noted that the company is sitting on total unrealized losses of $82.8 million across its remaining position.
These treasury sales come amid increasing pressure on digital asset holding companies from ETH’s price weakness. Mining giant BitMine, however, is taking a different approach—despite seeing unrealized losses exceed $7 billion, the company continues to expand its position.
Just last week, BitMine purchased an additional 51,162 ETH, with the transaction valued at over $93 million. This latest acquisition brings BitMine’s total portfolio to 4,422,659 ETH, demonstrating a strong conviction in Ethereum’s long-term prospects despite current market conditions.
Whale Activity: Strategic Rotation
Beyond institutional moves, individual whale investors remain active. One notable large investor, identified as 0x2bd7, converted 205 BTC ($13.45 million) into 6,973 ETH at an exchange rate of 0.02944. This type of rotation between Bitcoin and Ethereum suggests sophisticated positioning by experienced market participants.
Technical Outlook: $2,000 Resistance in Focus
Despite the strong 9.8% daily gain, Ethereum faces critical technical levels. After breaking above $2,000 during today’s rally, the price now sits at $2,030—a level that will need to hold as support for the recovery to continue.
The 1-hour chart shows Ethereum trading above its 200 EMA at $1,935, with the 90 EMA at $1,902 and 100 EMA at $1,909 providing additional support levels. The RSI reading of 66.19 indicates bullish momentum without entering overbought territory, suggesting room for further upside.
Analyst Ted Pillows commented on the situation: “Until ETH decisively breaks and holds above $2,000, a full retrace of this pump remains possible. The next few days will be crucial for determining whether this is a genuine reversal or just a temporary relief rally.”
The $2,000 level has historically acted as both support and resistance, making it a key psychological and technical battleground for traders. A sustained move above this level could open the door to further upside, while failure to hold would suggest the downtrend remains intact.
Market Context and Outlook
Ethereum’s 9.8% surge significantly outperforms the broader crypto market’s 3.3% gain, suggesting renewed interest in the second-largest cryptocurrency. However, the divergence among major holders—with some selling, some accumulating, and others strategically rotating—highlights the uncertainty that continues to characterize the market.
For traders, the immediate focus will be on whether Ethereum can maintain its position above $2,000 and build on today’s gains. The coming sessions will reveal whether institutional accumulation from players like BitMine can outweigh selling pressure from entities like FG Nexus and ongoing strategic sales from Vitalik Buterin.
As large investors and treasury companies continue to update their positions, Ethereum’s short-term direction appears closely tied to broader market momentum. Today’s strong performance offers hope for bulls, but the on-chain data suggests the path forward may remain volatile.
Sources: Lookonchain / Arkham Intelligence / TradingView / Market data / Ted Pillows analysis
Disclaimer: This content is for market information only and is not investment advice.
