Ethereum is trading at $2,375 after rallying more than 18% in 24 hours, pushing through several key price zones including $2,000, $2,100, and $2,200 before hitting an intraday high of $2,318.66.
The move was driven by a mix of whale activity, ETF inflows, and a breakout from a weeks-long accumulation range.
On August 19, U.S. spot Ethereum ETFs recorded $189.15 million in daily net inflows — the largest single-day figure in 10 months. That buying pressure came ahead of the 18% price surge.
Biggest ETF Day Since May, BTC Back Above $70K
Aug 19 BTC & ETH ETF Net Flows: +$684.4M
Three straight inflow days, +$1.08B combined. BTC now trades
at $71,653, up 9.7% in 24 hours and back above $70K for the
first time since early June.🟢 BTC: +$507.3M
IBIT (BlackRock):… pic.twitter.com/UOBwN2349T— CoinMarketCap (@CoinMarketCap) August 20, 2026
BlackRock’s ETHA fund led the pack with $122.12 million in inflows, equivalent to around 58,240 ETH. Its cumulative net inflows have now reached $11.85 billion, with net assets near $6.52 billion.
Fidelity’s FETH added $36.54 million, while Grayscale’s Ethereum ETF contributed $16.04 million on the same day.
Whale activity picked up during the rally. Wallet address 0x2d59 withdrew 30,000 ETH worth roughly $67.42 million from Binance. That same wallet has pulled 120,000 ETH — around $237.7 million — from Binance over the past three weeks.
Abraxas Capital also withdrew 18,000 ETH worth $39.56 million, and a newly created wallet withdrew another 6,704 ETH worth around $14 million on the same day.
Exchange supply of Ethereum has dropped 15% over 11 weeks, falling from 7.70 million on June 2 to 6.54 million on August 18, according to Santiment data.
One whale opened a 4x leveraged long position of 20,000 ETH worth $45.38 million on Hyperliquid, and is currently sitting on an unrealized profit of $6.66 million.
Analyst Michael Van de Poppe noted ETH’s move as a strong market shift, with the asset reaching the 0.033 BTC level. He pointed to possible retracements as buying opportunities as ETH moves toward higher levels against Bitcoin.
An absolutely amazing move of $ETH.
I don't think it will continue to run in one go, but it's quite clear that we're currently in a bull market.
Swept all the way towards 0.033 BTC and very likely retraces are for buying. pic.twitter.com/Fw7ZeM10UW
— Michaël van de Poppe (@CryptoMichNL) August 20, 2026
Twitter user Ted (@TedPillows) called ETH’s recent candle “an absolute monster,” adding that the next resistance sits around $2,500. He stated that if ETH reclaims that level, it won’t drop to a new bottom.
$ETH had an absolute monster candle yesterday.
The next resistance for Ethereum is around $2,500 and if ETH reclaims it, it won't drop to a new bottom. pic.twitter.com/qpVqGY2NQ3
— Ted (@TedPillows) August 20, 2026
The Bull/Bear Power indicator hit its highest reading of the year at around 528. Large transaction count jumped from 2,690 to 6,910 in a single day — nearly a 3x increase.
ETH first showed signs of a bottom on June 6, rebounding from $1,549, with a double bottom pattern forming and the neckline at $1,800 breaking through. The asset is currently trading at $2,375.
The post Ethereum (ETH) Price Surges 18% as BlackRock Leads $189M ETF Inflows — Is $2,500 Next? appeared first on CoinCentral.
