Odaily Planet Daily reports that Cointelegraph stated that although the price of ETH fell by approximately 20% in February, on-chain data indicates that investors continue to accumulate. In February, ETH accumulation addresses increased their holdings by over 2.5 million ETH, raising the total held to 26.7 million ETH.
On the network fundamentals front, over 30% of the circulating ETH supply (37,228,911 ETH) is currently staked. Weekly transaction volume has reached a record high of 17.3 million, while the median gas fee has dropped to $0.008.
In the derivatives market, ETH open interest stands at $11.2 billion, with estimated leverage remaining high at 0.7. Hyblock data shows that 73% of global accounts are currently long on ETH. The liquidation heatmap reveals that over $2 billion in short positions are clustered above $2,200, while approximately $1 billion in long liquidation positions are concentrated near $1,800. The most recent dense liquidation cluster is at $1,909, where $563 million in long positions are located.
Technical charts show that ETH is forming an "Adam and Eve" bottom pattern; a breakout above $2,150 could lead to a rise toward the $2,473–$2,634 range.