Santiment says ETH hits highest price since January as whale activity picks up

Ethereum rose above $2,630 on Sept. 18, its highest level since January, while whale activity has also been increasing, according to on-chain analytics firm Santiment. Santiment said the number of non-empty Ethereum wallets has reached a record 207 million, indicating Ethereum has built a broad holder base despite choppy market conditions in recent months. The firm added staking remains a key factor supporting long-term ETH holding, with more than 40 million ETH currently staked. DeFi is also boosting Ethereum’s utility, Santiment said, with around $50 billion in total value locked on the network. It added that markets spanning stablecoins, lending, decentralized exchanges and liquid staking give ETH holders ways to use their holdings beyond expectations of price gains.