Ethereum (ETH) is trading near $2,305 as whale wallets quietly load up and a major piece of US crypto legislation moves closer to a vote.
According to data shared by Ali Charts, large ETH holders added over 140,000 ETH in just 96 hours between May 1 and May 3. That’s roughly $322 million worth of buying. Whale holdings rose from about 13.78 million ETH to nearly 13.98 million ETH. This was steady accumulation, not a single large transfer.
Whales have gone on a buying spree, accumulating over 140,000 Ethereum $ETH in the last 96 hours, worth around $322 million. pic.twitter.com/uHZqV3B0W9
— Ali Charts (@alicharts) May 3, 2026
Despite the buying, ETH’s price action has been muted. The asset gained 0.1% over the past 24 hours and is still down about 1% over the past week. Daily trading volume sits at $6.8 billion.
The bigger story driving sentiment around ETH may be regulatory. The CLARITY Act — a stablecoin framework bill — has been stuck in the US Senate due to a dispute over whether stablecoin holders should receive yield. Banks opposed it. Coinbase pushed back on any restrictions.
CLARITY ACT PASSAGE ODDS RISE ABOVE 60% ON POLYMARKET
For the first time in a month, odds of the CLARITY Act passing in 2026 have climbed above 60%, peaking 69% on May 2. pic.twitter.com/yX3rStDRIp
— Coin Bureau (@coinbureau) May 3, 2026
Senator Tillis brokered a compromise. Coinbase’s Chief Legal Officer Paul Grewal said there was no reason for the gridlock in the first place, but welcomed the resolution. Crypto analyst Alex Thorn of Galaxy, who previously put the odds of CLARITY passing this year at just 50%, has now changed his view. He expects a Senate markup on May 11.
Analyst Daan Crypto Trades noted on X that Ethereum is currently being rejected by the weekly 200 moving average — a logical consolidation point. He flagged $2.1K as a key level on higher timeframes, and said a break above $2,400–$2,500 could lead to a test of $2,800.
$ETH So far being rejected by the Weekly 200 Moving Average. A logical place to consolidate at for a bit.
Below, that $2.1K level remains key on the higher timeframes.
A break above ~$2.4K-$2.5K should lead to another test of $2.8K which has been important over the past few… pic.twitter.com/icqYsOjVNB
— Daan Crypto Trades (@DaanCrypto) May 2, 2026
ETH has been printing higher lows since finding a base in the $1,800–$2,000 range earlier in the year. A falling wedge pattern is forming on the chart, which some analysts read as a potential bullish reversal signal.
$2,200 remains the floor traders are watching. A breakdown below it could bring $1,900 back into play. On the upside, $2,400 is the first wall to clear. A clean break there could target $2,600 and then $2,800.
The most recent on-chain data shows whale wallets continuing to add ETH, with holdings at nearly 13.98 million ETH as of May 3.
The post Ethereum (ETH) Price: Whales Buy $322M as CLARITY Act Advances Toward Markup appeared first on CoinCentral.
