A whale dormant for five years staked 44,500 ETH (about $102 million) to borrow 70 million USDT and bought 30,222 ETH at an average price of $2,316 on Feb. 2, on-chain data show. The ETH collateral was withdrawn from Bitfinex when ETH traded at $1,354. The position currently shows a $42.57 million profit.

HYPE, BERA, XDC, ENA, KMNO and W are scheduled for one-off token unlocks during Feb. 2–8, Token Unlocks data show. HYPE will unlock 9.92 million tokens (2.79%, worth $296.91 million) on Feb. 6; BERA 63.75 million (41.70%, $29.47 million) on Feb. 6; XDC 841.18 million (5.00%, $29 million) on Feb. 5; ENA 40.63 million (0.55%, $5.55 million) on Feb. 2; KMNO 100 million (1.55%, $3.34 million) on Feb. 8; and W 50.41 million (0.95%, $1.15 million) on Feb. 6.

Trend Research sold 33,589 ETH (worth approximately $79.12 million) on Feb. 2, BlockBeats reports citing analyst Yu Jin. The firm then withdrew 77.52 million USDT from Binance to repay debt, lowering the liquidation price of its ETH borrowing position from $1,880 to around $1,830.

Bitmine holds 4.243 million ETH purchased at an average cost of $3,849, with unrealized losses reaching $6.9 billion on Feb. 2, on-chain data show. The loss widened as ETH dropped to $2,222 early that day, its lowest level since June 2025.

Tom Lee outlined his 2026 market outlook on February 1 during an appearance on podcast "The Compound", saying he remains broadly bullish on cryptocurrencies even as he believes the market is currently in a bear phase with notable short-term pressure, BlockBeats reports. He suggested ETH could establish a bottom around $2,400, after briefly dropping to about $2,200 intraday before trading back near $2,400, and argued that the long-term crypto bull cycle that began in 2022 is still in its early stages. Lee added that if the ETH/BTC ratio revisits its historical peak, Ethereum's price could approach $12,000, reiterating his earlier calls that 2025 would likely see a "down then up" pattern and that Bitcoin may still set a new all-time high.

Ethereum fell below $2,400 on Feb. 1, trading at $2,393.42, HTX market data show. The decline followed a deposit of 100,000 ETH to Binance by an address described as a "BTC OG insider whale."

A BTC OG insider whale deposited 100,000 ETH to Binance on Feb. 1, worth $242.7 million, Lookonchain data show. BlockBeats reports the transfer was directed to the exchange.

Ethereum falling below $2,300 would trigger cumulative long-liquidation intensity of 737 million across mainstream centralized exchanges, while a move above $2,500 would expose 614 million in short-liquidation intensity, Coinglass data show. BlockBeats notes the liquidation chart reflects relative concentration—not exact contract counts or dollar values—with taller bars indicating stronger potential market reactions as liquidity cascades form at those thresholds. The visualization serves as a sensitivity map of impact around key price levels rather than a precise tally of positions at risk.