Ethereum (ETH) climbed above $2,430 on Friday, its highest price in roughly four months, as US spot ETFs absorbed their largest daily inflow since October, and whales pulled fresh supply off Binance.

The altcoin has gained 29% over the past week. At press time, it traded at $2,422. Despite the price gain, not every large holder is buying.

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Ethereum ETF Demand Hits a 10-Month Peak

US-listed Ethereum ETFs took in $220.77 million on August 20, per SoSoValue data. This is the strongest daily haul since October 28, 2025.

The inflow capped a four-day run of positive flows worth $512.25 million. Demand accelerated through the stretch, climbing from $30.85 million on August 17.

Total net assets across the funds reached $13.58 billion, the highest since May 11. Cumulative net inflows now stand at $11.97 billion.

The strength extends beyond Ethereum. Bitcoin also surged to $79,000 for the first time since mid-May

Whales Split as Ethereum Rallies

On-chain data shows large holders moving in both directions. Lookonchain flagged wallet 0x2d59 as withdrawing 30,000 ETH, worth $67.42 million, from Binance.

This wallet has now taken 120,000 ETH off the exchange over three weeks, valued at $237.7 million. Abraxas Capital withdrew another 18,000 ETH worth $39.56 million.

A newly created wallet, 0x2261, moved out 6,704 ETH worth $14 million from the same exchange.

On the other hand, sellers are just as active. According to Lookonchain, 7 Siblings offloaded 14,000 ETH for $32.85 million at an average price of $2,346.

Wallet 0xFD10 swapped 11,252 Lido Staked Ether (stETH) and 1,824 ETH into 30.78 million Tether (USDT). Whale 0x4cee booked a $1.76 million profit on 5,250 ETH.

Exchange outflows point to accumulation, yet the selling shows conviction is far from uniform above $2,400.

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Source: BeInCrypto