Ethereum Surges 10 Percent in Two Hours on Whale Buying and Fresh Inflation Data

Ethereum climbed sharply from 2433 to 2667 dollars in just two hours, adding nearly 10 percent. The move followed the release of August US inflation figures that came in at 3.4 percent year-over-year.

Analyst Ali Martinez pointed to increased whale activity as a key driver. On-chain data showed a 14 percent rise in transactions above one million dollars, signaling stronger participation from large holders.

Near-term resistance looms between 2700 and 2800 dollars, where more than 10 million ETH changed hands earlier. Breaking through this supply zone with continued whale support is seen as necessary for any push toward 3000 dollars.

Based on information from https://cryptonews.net