Ethereum

Ethereum has climbed back above $1,650 after last week's sharp drop. Arkham Intelligence data highlights a long-held wallet that sold about $188 million across ETH, wstETH, and WBTC before the slide, then repurchased those positions at lower average prices.

As of June 8, 2026, ETH was trading near $1,689.83, down about 15% over the prior week. A wallet linked to Ethereum co-founder Joseph Lubin transferred 110,000 ETH into Sky (formerly MakerDAO) vaults, adding collateral behind an existing $259 million DAI debt position rather than sending funds to exchanges.

Ethereum treasury firm Bitmine said it added 126,971 ETH over the past week and now holds 5.54 million ETH, which it put at 4.59% of the 120.7 million ETH supply. The company also reported $9.6 billion in total holdings, including 204 Bitcoin and $247 million in cash, and said nearly 4.72 million ETH is staked with a 2.99% seven-day yield.

Ethereum (ETH) bounced after dipping into the $1.5K area and has recovered toward $1.7K, but it still sits below the 100-day MA near $2.1K and the 200-day MA around $2.4K. Key upside checkpoints are clustered at $1.77K, $1.83K, and $1.92K, while $1.64K is highlighted as near-term support on lower timeframes. Sentiment remains cautious with the Coinbase Premium Index around -0.04, despite rebounding from roughly -0.15.

Between June 1 and 7, Strategy bought 1,550 BTC for $101 million at an average price of $65,332, taking its holdings to 845,256 BTC and lifting USD reserves to $1 billion. After a 32 BTC sale last week at $77,135 each to fund preferred dividends, Bitcoin slid from about $77,000 to below $60,000 before the company resumed buying. During the same dip, Tom Lee's BitMine Immersion Technologies purchased 126,971 ETH for $213 million with ETH near $1,670, raising its total to 5.54 million ETH.

BlackRock moved 3,580 BTC worth about $226.8 million to Coinbase Prime on June 8, a transfer that some traders watch as a possible precursor to market activity. The move comes as its crypto ETF lineup saw roughly $1.46 billion in net outflows in the five trading days ending June 5, including about $1.34 billion from IBIT.

Bitmine Immersion Technologies reported that as of June 7, 2026 it held 5,543,872 ETH—about 4.59% of the 120.7 million ETH supply—valued near $9.04 billion at current prices. The company said 4,718,677 ETH is staked at a seven-day annualized yield of 2.99%, with projected annualized staking revenue of $230 million, while chairman Tom Lee argued AI-driven flaw discovery could favor hardened networks like Ethereum.

Four major exchanges saw their combined Ethereum reserves decline by 475,000 ETH from late May through June 7, 2026, pointing to a coordinated move off venues. On May 14, 2026, an automated model turned 100% bullish after a Binance stablecoin-deposit Z-Score hit +1.21σ, even as ETH stayed 11.7% below its active Death Cross and 31% under its 200-day SMA at $2,445.

Ethereum balances held on major exchanges fell by roughly 475,000 ETH during the first week of June. Binance, OKX, Gemini, and Bitfinex each reported lower reserves across late May and June 7, with OKX posting the largest percentage drop over June 4–June 7. The moves coincided with ETH trading near $1,664 and a market capitalization of about $201.5 billion at the time referenced.

A long-held Ethereum wallet sold a combined ~$188 million in ETH, wstETH and WBTC around an average ETH price of $2,040, then started buying back ETH near $1,563. The repurchases were described as roughly 23% below the prior average sale price, with about $55.8 million in ETH accumulated over two days. Data also indicated the wallet still holds sizable stablecoins, leaving room for further buying if prices stay weak.