🔥 Ethereum Update: ENS Shifts Strategy as Smart Money Accumulates
Ethereum is sending two powerful signals at once — a strategic ecosystem shift and revealing on-chain behavior around ETH price action.
🧩 Key Developments
Ethereum Name Service (ENS) has abandoned its planned Namechain Layer-2, choosing to deploy ENSv2 directly on Ethereum mainnet (L1).
This decision follows major Ethereum upgrades that have reduced gas fees by ~99%, making a separate L2 unnecessary.
The move reinforces long-term confidence in Ethereum’s base layer scalability.
📊 Ethereum Price Snapshot
ETH trades around $2,066, stabilising after a volatile week.
Price dipped to the $1,750–$1,800 zone before rebounding and reclaiming the $2,000 psychological level.
🔍 On-Chain Signals: Selling vs Accumulation
Forced selling pressure:
Lookonchain data shows Trend Research deposited its final 651,000 ETH (~$1.34B),
Realising an estimated $747M loss after near-total liquidation driven by margin pressure.
Smart money activity:
Whales are accumulating aggressively — one wallet withdrew 60,000 ETH (~$126M) from Binance within 30 hours.
🎯 Key Technical Levels
Resistance: $2,100 – $2,150
A confirmed breakout could open a move toward $2,300+
Support: $2,000 remains critical
Bearish scenario: potential retest of $1,750, with $1,550 as deeper support
🧠 Market Insight
As forced sellers exit the market, whales are quietly absorbing supply — a pattern often seen near volatility lows and trend transition phases.
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