Ethereum Reclaims $2K as Staking Reaches Record 36.6M ETH, Nearly 30% of Total Supply

Ethereum surged past the $2,000 mark following a 7.98% rally in the past 24 hours. The second-largest cryptocurrency now trades at $2,052.72, with its market capitalization climbing to $247.74 billion.

On-chain data reveals a record 36.6 million ETH locked in staking contracts. This milestone represents approximately 30% of the total circulating supply now unavailable for trading.

The accumulation appears driven partly by institutional players and large holders. Entities such as BitMine have expanded their staked positions, while smaller wallets have also increased participation.

Whale behavior remains mixed across the network. Some larger holders have trimmed reserves, while others expand exposure through staking channels.

Ethereum ETF Outflows Hit $244 Million Weekly Despite Rally

Lookonchain data shows Ethereum exchange-traded funds posted negative flows despite the price increase. The ETFs registered a one-day net outflow of 73,075 ETH, worth approximately $144.84 million.

Weekly outflows proved even more substantial. Over seven days, ETFs recorded net outflows of 123,376 ETH, totaling $244.53 million in value leaving these products.

Feb 13 Update:#Bitcoin ETFs:
1D NetFlow: -5,042 $BTC(-$339.68M)🔴
7D NetFlow: -826 $BTC(-$55.65M)🔴#Ethereum ETFs:
1D NetFlow: -73,075 $ETH(-$144.84M)🔴
7D NetFlow: -123,376 $ETH(-$244.53M)🔴#Solana ETFs:
1D NetFlow: +19,170 $SOL(+$1.55M)🟢
7D NetFlow: -21,724… pic.twitter.com/is4nvydMp8

— Lookonchain (@lookonchain) February 13, 2026

The divergence between spot market gains and institutional product flows marks a notable trend. Retail and on-chain participants appear more bullish than traditional finance vehicles.

Meanwhile, the record staking ratio signals network participants remain committed to long-term positioning. Validators face long lead times before withdrawals become possible.

ETH Supply Tightens as Float Shrinks

The structural shift in ETH supply dynamics carries significant implications for price behavior. With nearly one-third of tokens locked, the available float shrinks considerably.

Reduced liquidity means both rallies and selloffs may accelerate in magnitude. The tightening supply, combined with ongoing whale accumulation, could amplify future price swings.

ETH traded below key support levels in recent sessions before this recovery. Technical weakness and macroeconomic headwinds continue weighing on the broader crypto market.

Following the sharp decline from November highs near $4,800, Ethereum lost approximately 57% of its value. The recent low of $1,575 marked a capitulation point for many holders.

ETH Technical Outlook at Critical Fibonacci Level

Ethereum currently trades at the critical 0.786 Fibonacci retracement level between $2,000 and $2,050. This zone represents a decisive battleground for bulls and bears.

The Bollinger Bands show significant expansion, indicating elevated volatility. Price pierced the lower band at $1,575 before staging the current recovery bounce toward the middle band at $2,343.

MACD readings remain deep in negative territory with the line at -252.58. However, a potential bullish crossover has emerged as the MACD line crossed above the signal line.

Immediate resistance sits at $2,340-$2,400, where the 20-day simple moving average converges with previous support. A break above this level would target $2,700 at the 0.618 Fibonacci retracement.

Key support rests at the psychological $2,000 level. Failure to hold this zone would likely trigger a retest of $1,575-$1,600, the recent capitulation low.

Volume analysis shows a massive spike at the $1,575 bottom, suggesting panic selling and forced liquidations. Current bounce volume remains subdued, indicating short covering rather than accumulation.

The primary trend remains bearish with consistent lower highs since November. Price trajectory leans cautiously bullish short-term, but reclaiming $2,340 with volume is necessary for confirmation.