Ethereum Price Holds USD 2,693 as ETH Demand and Staking Rise

Ethereum traded at USD 2,693, up 1.63% on the day, while remaining above key short- and long-term moving averages. Spot accumulation, rising staking activity, and corporate treasury holdings continued to support market demand. At the same time, mixed momentum indicators and large derivatives positions showed that traders remained divided over Ethereum’s next major move.

Ethereum Price Holds Above Key Moving Averages

ETH/USD remained above its 20-period moving average at USD 2,677 and its 50-period average at USD 2,680 on the hourly chart. It also traded well above the daily 200-period moving average at USD 2,104.

Meanwhile, the Ichimoku Kijun stood near USD 2,678, creating another short-term support reference. Ethereum’s move above USD 2,700 also broke bearish structures visible on the previous chart.

Still, momentum indicators offered a mixed picture. The MACD showed a sell signal, while the ADX remained neutral. RSI stood at 47.05, placing Ethereum near the middle of its recent momentum range.

The CCI also showed a sell signal, while the Stoch RSI remained neutral. Bull/Bear Power indicated oversold conditions and intraday seller pressure during a period of relatively low volatility.

Ethereum also maintained a value near 0.032 BTC. Its recovery against Bitcoin came as ETH continued rebuilding after the October 10, 2025, liquidation event. September has historically produced an average Ethereum loss of 8.57%, according to the supplied data. This September, however, ETH crossed several technical and market milestones.

BitMine Ethereum Holdings Pass 6 Million ETH

BitMine Immersion Technologies increased its Ethereum holdings beyond 6 million ETH, keeping its position among the largest corporate ETH holders. The company also plans to stake most of its holdings.

Corporate treasuries now hold about 8.49 million ETH in total. That figure adds another source of concentrated long-term Ethereum ownership alongside staking and accumulation addresses. SharpLink Gaming also staked 42,072 ETH. Treasury companies have increasingly used staking as part of their Ethereum strategies rather than leaving all holdings inactive.

Across the broader network, 35.72% of Ethereum’s supply is now staked. That represents more than 43 million ETH committed to Ethereum’s staking system. Accumulation addresses have also expanded. These addresses now hold more than 23 million ETH following faster growth during September.

In another transaction, an anonymous whale accumulated about USD 31 million in ETH from OKX and Binance before moving the assets to a self-custodied address. Spot demand has therefore remained an important part of Ethereum’s market structure. ETH also retains utility across staking, decentralized finance, and other blockchain applications.

Also Read: Vitalik Buterin Maps Ethereum’s 2030 Cryptographic Future

ETH Open Interest Tops USD 18 Billion

Ethereum open interest climbed back above USD 18 billion as derivatives activity increased. Hyperliquid played a larger role during the latest rally, and Ethereum open interest temporarily surpassed Bitcoin positions on the platform.

Hyperliquid whale positioning leaned toward the long side. More than 65% of those traders held long positions, compared with an average long open-interest share of 57% across other markets.

Still, the platform’s largest Ethereum position remained a short worth about USD 283 million. Positive funding rates generated about USD 2.6 million in funding fees for the position. Liquidity levels also showed clear zones on both sides of the market. Long-position liquidity extended toward USD 2,500, while short-position liquidity reached as high as USD 2,900.

Wintermute also prepared for active trading with USD 126 million in short positions. Of that amount, USD 46.92 million represented ETH short open interest.

The position carried unrealized gains and about USD 402,000 in funding fees. Therefore, derivatives traders continue to hold significant exposure even as spot accumulation and staking remove ETH from liquid circulation. Ethereum sentiment stood at 55 points, placing the market in neutral territory. This reading fell from greed levels recorded during the previous week.

A Brief Roundup

Ethereum remains above important moving averages while staking, treasury holdings, and accumulation addresses continue to grow. However, mixed momentum signals and large derivatives positions keep short-term direction uncertain. Traders remain focused on support near USD 2,678 and liquidity between USD 2,500 and USD 2,900.