ETH 15-minute increase of 1.09%: Whale transfers and derivatives leverage resonate to drive short-term rally

Between 18:30 and 18:45 UTC on February 26, 2026, ETH prices fluctuated between 1985.92 and 2009.73 USDT, with short-term returns of +1.09% and a volatility of 1.20%. This sudden movement attracted significant market attention amid recent overall weak market conditions and increased volatility, with trading activity continuing to rise. Market sentiment was notably affected by high volatility, leading to increased focus.

The main drivers of this movement were large on-chain transfers and liquidation activities by whale funds, with some ETH quickly flowing into mainstream trading platforms, increasing market supply and intensifying short-term fluctuations. Additionally, within this time window, derivative markets saw nearly $100 million in single-day leveraged position liquidations, with futures trading volume exceeding $5.1 billion, further amplifying price movements through short-term leverage liquidations. Institutional funds increased holdings counter to the trend, and some companies pledged large amounts of ETH, providing support to the spot market and effectively easing selling pressure.

Furthermore, on-chain activity reached new highs, with active addresses and transaction counts setting records. Low Gas fees (averaging as low as $0.15) attracted massive capital inflows, boosting DeFi, NFT, and other on-chain transaction volumes, significantly enhancing liquidity. Market sentiment was polarized, with whale sell-offs offset by institutional accumulation, providing support in long-term demand zones. Meanwhile, news from the Ethereum ecosystem—such as the founder selling ETH and the release of a post-quantum security roadmap—also contributed to short-term volatility. Multiple factors resonated to drive this price rally.

Currently, ETH remains in a high-volatility range, with short-term risks prominent. It is recommended to closely monitor key support and resistance levels, on-chain capital flows, and be cautious of derivative market leverage liquidations and changes in on-chain activity that could pose hidden risks. Attention should also be paid to macroeconomic news and major ecosystem developments. Please stay tuned for upcoming market updates to stay informed of the latest developments.