2026-04-05 22:30 to 2026-04-05 22:45 (UTC), ETH’s return rate reached +0.79% within 15 minutes, closing in the price range of 2053.03 to 2072.18 USDT. The amplitude was 0.93%, indicating increased market volatility, as relevant on-chain and structural data highlighted a rise in market attention.
The main drivers of this unusual move were the synchronized increase in the number of active on-chain addresses and trading volume. Within 10 minutes, the active trading amount reached $420.7k, the number of active addresses rose to more than 20k, indicating that real user participation is accelerating. Meanwhile, short-term amplification of market demand boosted buy-side pressure, further strengthening the upward price momentum. At the same time, whale holdings showed a phase-based increase, with large capital gradually entering the market and sending out a price support signal.
In addition, ETH exchange fund inflows and outflows were nearly balanced: inflows of $420.7k and outflows of $20k, resulting in net inflows of only $0.28 million. This shows that long and short forces are getting stuck, and that funding disagreements have increased the market’s sensitivity of price to incremental trading volume. Meanwhile, within the DeFi ecosystem, mainstream DEX liquidity for ETH is concentrated, with TVL nearing $57 million, creating an amplifying effect of large trades on price. ETF holdings are consolidating and the derivatives market’s liquidation scale is limited; no extreme directional force was observed, but overall capital structure supports short-term resonance in the market.
At present, the risk of short-term volatility in the ETH market is rising. It is necessary to continue monitoring changes in active addresses, exchange fund flows, and whale behavior on-chain. In particular, pay attention to the liquidity distribution across major DeFi pools and be cautious of heavy sell pressure in concentrated liquidity ranges. Once market sentiment turns, structural capital rebalancing may trigger further unusual moves. For more market developments and changes in deep capital behavior, it is recommended to continue following timely news updates.
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