Ether Falls Below $2K, But Accumulation Tells a Different Story

[ed]

Ether (ETH) dropped below the psychological $2,000 mark this week, posting a roughly 20% loss for February. Yet, onchain data shows long-term investors are actively accumulating. Over 2.5 million ETH flowed into accumulation addresses in February, raising total holdings to 26.7 million ETH for 2026.

Network usage is also strong: weekly Ethereum transactions reached 17.3 million, with median fees at just $0.008 — a huge contrast to 2021 peak fees of over $25. Meanwhile, more than 30% of circulating ETH is staked, tightening liquid supply. Analysts view these conditions as a potential setup for a sustained rally once price pressure eases.

[etfs]

median fee of 0.008$… wild how far we’ve come from the 25$ days