Ethereum Near $2,977 as Binance Staking Moves ETH

Ethereum hovered near $2,977 as traders tracked big Binance staking wallet moves, repeated support retests, and liquidation pressure building above spot. Together, the charts frame a market watching whether ETH can hold key levels and challenge nearby resistance.

Arkham Data Shows Large ETH Moves Between Binance Staking Wallets

Arkham’s transfer page shows multiple large Ethereum outflows between two Binance labeled wallets, “Binance: Eth2 Staking (0xF17)” and “Binance: Eth2 Staking (0xBdD).” The log includes recent transfers of 80,000 ETH marked “1 day ago” and another 80,000 ETH marked “5 days ago,” alongside older moves such as 20,000 ETH and 70,000 ETH around three months ago. The entries display USD estimates in the hundreds of millions for several of the transfers.

Binance ETH Staking Transfers. Source: Arkham / X

A social media post circulating with the screenshot claimed Binance “staked $500 million worth of ETH this week” and called the activity “bullish for Ethereum.” However, the screenshot itself shows wallet to wallet movements between Binance staking labeled addresses, so it does not, on its own, prove new staking demand from external users or net new ETH entering Binance staking.

The same post also included a promotional line asking readers not to forget to “drop your sol wallet address.” Meanwhile, the on chain view shown in the image focuses on Ethereum transfers and does not reference Solana wallets or any giveaway mechanics.

Ethereum Trades Near $2,977 as Analyst Tracks Support Hold

Meanwhile, Ethereum traded near $2,977 on the ETH USDT 2 hour Binance chart after returning above a highlighted support zone, according to a TradingView screenshot shared by DonnieBTC on X.

The chart shows ETH rebounding from a sharp mid week drop and then revisiting the same price band several times. Price action also remains capped by a descending trendline that links earlier highs, while several shaded bands above current levels mark nearby resistance areas on the chart.

Ethereum Support Zone Retest. Source: TradingView/X

DonnieBTC wrote that Ethereum has moved back above the highlighted zone “for a few times now.” He added that he is watching whether ETH can reclaim the area and hold it, and he said the outlook improves if price sustains above that band.

Liquidation Heatmap Highlights Dense Levels Above ETH Price

A CoinAnk liquidation heatmap shared by X user CW shows a large concentration of potential liquidation levels above Ethereum’s recent trading range, as ETH moved from the low $3,100s into the $2,700s and then stabilized near the $2,900 to $3,000 area over the past week.

Ethereum Liquidation Heatmap. Source: CoinAnk

On the chart, the brightest horizontal band sits above current price, clustered around the low $3,000s. In this type of heatmap, brighter colors usually mark larger pools of leveraged positions that could be forced closed if price trades into that zone, because liquidations tend to trigger around common leverage entry points and stop levels.

CW wrote that “high leverage short positions on ETH will be liquidated soon.” Liquidations only occur if price moves into those levels, so the heatmap shows where pressure may appear, not a guarantee that ETH will reach it.