On-chain insights for today (February 13, 2026) focus on a clear divergence between price weakness and whale/institutional behavior across major assets like Ethereum (ETH) and Bitcoin (BTC). The market remains in a corrective phase, with ETH trading around $1,950–$1,969 (testing the $2,000 psychological level) and BTC near $65,000–$68,000 amid volatility.Ethereum (ETH) On-Chain Highlights
Whale accumulation dominates despite the dip: Large holders (1M–10M ETH addresses) have added over 1.1 million ETH (~$2 billion at current prices) since early February. This aggressive buying on weakness signals strong conviction in a potential rebound, with some analysts eyeing a short-term 10% bounce if resistance around $2,010 holds.
Staking and supply lock-up at record highs: ~30% of total ETH supply (over 36.8 million ETH, worth ~$72 billion) is now staked, reducing circulating supply and supporting long-term floors. Institutional players (e.g., BitMine) and whales continue driving this trend via staking rewards.
Mixed large transfers: Notable inflows to exchanges include a massive 122,365 ETH ($237 million) from an unknown wallet to Coinbase (potential repositioning or trading prep). Other outflows from Kraken (28,079 ETH to unknown) suggest some self-custody or accumulation moves. Overall, net exchange outflows persist in recent days/weeks.
Broader metrics: Token transfers hit a 14-day high (2.75 million), indicating stress, repositioning, or capitulation. Weekly transactions remain elevated, while gas fees stay low (0.2 Gwei). Some mid-tier whales (10K–1M ETH) show distribution, but top-tier accumulation outweighs it.
Derivatives context: Leveraged positions (e.g., on Hyperliquid) include heavy shorts and longs, with rumors of large liquidations (~$260M ETH-related) circulating in communities. Funding rates and open interest reflect deleveraging.
Bitcoin (BTC) On-Chain Context (for broader market tie-in)
Whale activity leans toward accumulation in larger cohorts (1K–100K BTC holders adding significantly in 2026), though some notable deposits (e.g., ~8,200 BTC ~$560M to Binance over recent days) spark volatility concerns.
ETF outflows remain heavy (combined BTC/ETH ~$523M recently), contributing to pressure, but on-chain signals like MVRV near undervalued levels hint at potential cycle bottoms.
Overall Market ThemeThe dominant on-chain narrative is smart money accumulating amid retail caution/panic, with reduced liquid supply (via staking/withdrawals) creating tighter conditions for any rebound. This contrasts with short-term bearish pressure from leveraged unwinds, ETF flows, and macro uncertainty (e.g., Standard Chartered's bearish near-term calls for BTC to $50K and ETH to $1,400 before recovery). No single massive dump dominates today—more strategic shuffling and dip-buying.#Onchaininsights #marketrebound #MarketCorrection #MarketDataWatch #WhaleActivity
