Binance Sees Ethereum Whale Accumulation Amid Price Consolidation

Ethereum’s price has been consolidating around $2,537, struggling to break past the $2,800 resistance level after losing its $3,000 support in February. Recent weeks have seen the asset fluctuate between $2,470 and $2,700, with a failed recovery attempt from $2,650 leading to a drop below $2,550. On-chain data indicates a significant trend: ethereum whales have been accumulating ETH on Binance since May 19, a behavior reminiscent of the accumulation pattern observed before the December 2023 rally. This whale activity suggests growing confidence among large holders, potentially signaling an upcoming price surge. The current market dynamics, combined with historical patterns, hint at a possible bullish reversal if the accumulation trend continues. As of June 3, 2025, Ethereum remains a key asset to watch, with Binance serving as a focal point for whale activity and market sentiment.

Ethereum Whales Accumulate as Price Consolidates, Hinting at Potential Rally

Ethereum’s price hovers NEAR $2,537, struggling to breach the $2,800 resistance level after losing its $3,000 foothold in February. The asset has oscillated between $2,470 and $2,700 in recent weeks, with a failed recovery from $2,650 leading to a dip below $2,550.

On-chain data reveals a telling pattern: whales have been accumulating ETH on Binance since May 19, mirroring behavior that preceded December 2023’s 80% surge from $2,200 to $4,000. The $2,550-$2,600 zone now serves as critical resistance, while $2,470 acts as key support.

Technical indicators suggest bullish potential if ETH reclaims $2,620. Market participants watch closely as history threatens to repeat—whale movements often foreshadow significant volatility.

Binance Expands Turkish Lira Trading Options with MUBARAK/TRY Pair

Binance, the world’s largest cryptocurrency exchange by volume, will introduce the MUBARAK/TRY trading pair on June 3, 2025, at 11:00 AM local Turkish time. This strategic move targets Turkey’s growing crypto market by enabling direct conversions between the digital asset and fiat currency.

Concurrently, the exchange is rolling out Spot ALGO Orders for the new pair, allowing automated trading strategies with batch order functionality. Institutional traders gain additional tools with Grid and DCA bot support for INJ/USDC pairs.

In a bid to boost liquidity, Binance announced indefinite taker fee discounts across all USDC spot and margin trading pairs. The promotion applies globally but comes with regional restrictions on the MUBARAK/TRY availability.

XRP Supply Shock Looms as Exchange Reserves Dwindle

XRP, currently the fourth-largest cryptocurrency by market capitalization, faces a potential supply shock as exchange reserves decline. The asset, which peaked at $3.38 earlier this year, now consolidates around $2.50—a level some traders view as a buying opportunity before scarcity intensifies.

Analyst Arduino Fina of Alpha Lions Academy warns that cumulative transaction burns and accelerating withdrawals could trigger a liquidity crunch. Each XRP transaction permanently destroys 0.00001 XRP, while Binance alone has seen 183 million XRP withdrawn from its hot wallets since January. The exchange’s XRP reserves have dropped from 2.94 billion to 2.86 billion coins year-to-date.

Market observers note the irony in Binance’s 3 billion XRP accumulation during January’s price surge to $3.30—a seven-year high—now reversing into a sustained outflow trend. The combination of micro-burns and deliberate custody shifts suggests tightening availability for both retail and institutional buyers.

Bitcoin Holds Firm Above $100K Amid Market Uncertainty

Bitcoin maintains its ground above $104,000 despite turbulent macroeconomic conditions. The cryptocurrency’s resilience comes as global markets grapple with reignited trade war tensions and geopolitical instability following Ukraine’s recent actions.

Analyst Michael Poppe observes pronounced resistance rejections on BTC charts, suggesting potential short-term downside before upward momentum resumes. ’Bitcoin’s clear rejection implies we will see lower prices before regaining upward momentum,’ he notes.

The sustained six-figure price level marks uncharted territory for the flagship cryptocurrency. Market watchers like Lark Davis suggest this consolidation above $100,000 may precede more significant price movements in the coming weeks.