Ethereum fell below $2,200 on Feb. 2, dropping 9.8% over 24 hours, HTX data show. The decline was recorded in HTX's market feed for the period, BlockBeats reports.

A whale deposited 12,058.4 ETH to OKX over the past 15 hours on Feb 2, BlockBeats reports citing Ai 姨 (@ai_9684xtpa). The address has allegedly sold 33,680.4 ETH since Jan 20; if sold, losses would total 1361 万美元. The whale accumulated 55,262.16 ETH since Dec 5, 2025 at an average cost of 3120 美元.

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 The ETH collateral was withdrawn from Bitfinex when ETH traded at $1,354.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."