Following a disappointing performance in February, the Ethereum price has seen some semblance of relief over the past two weeks. With the steadying market condition, the “king of altcoins” has managed to hold its own around the psychological $2,000 level.
This, expectedly, has been enough to rouse hopes in silent investors on the Ether token’s future; however, a market analyst has revealed reasons to believe that Ethereum buyers might want to sit on their hands — at least in the meantime.
Multiple Indicators Align To Reflect High Market Stress
In a recent post on the social media platform X, on-chain analyst Boris highlighted data from three metrics, showing that the Ethereum market is starting to see a surge in pressure. According to the analyst, if the present conditions persist, a capitulation phase might be on the horizon for the second-largest cryptocurrency.
The market pundit started their analysis with the Net Unrealized Profit/Loss (NUPL) metric, which measures the overall profit or loss of investors by comparing the current market value of ETH to the price at which coins last moved on-chain. Boris shared in his post that the NUPL currently sits on a negative level, suggesting that Ethereum’s investors may be holding through unrealized losses.
Ethereum may be approaching a major capitulation zone
Several key on-chain signals are starting to align:
• NUPL: Negative → Investors are holding unrealized losses
• Price: Below Realized Price (~$2.2K) → Market still under pressure
• Profit Days: The 1.34K-day profit… pic.twitter.com/rHNw1Pn0i8— Boris. (@Fundingvest) March 12, 2026
Another major metric cited was the Realized Price metric, which represents the average price at which all coins in circulation were last moved on-chain. Boris pointed out in his tweet that the altcoin is currently trading beneath its realized price of $2,200.
When the market falls below this level, it indicates that the average Ethereum investor is holding through losses. Hence, this on-chain signal translates as a level of pressure being felt by Ethereum’s investors, as the market price continues to fluctuate below the realized price.
Source: @Fundingvest on X
Furthermore, Boris mentioned the Number of Days Spent at a Profit metric in his analysis, saying that the Ethereum network recently ended an impressive 1,340-day streak, during which the majority of circulating Ether tokens remained profitable.
The analyst explained that this is often a signal that a market cycle has ended — a conjecture that is consistent with historical events and tends to appear close to the bottoms of bear markets.
Despite the present conditions, Boris warned that NUPL still has to move deeper towards the capitulation zone between –0.5 and –1 for a bottom to be formed. If the Ethereum price were to experience another sell-off round, the metric could enter the capitulation zone, where several investors might be forced to forfeit their positions — an event that would most likely be exploited by long-term traders (the diamond hands).
Ethereum Price At A Glance
As of this writing, the price of Ethereum stands at around about $2,092, reflecting an over 1% drop since the past day.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from DALL-E, chart from TradingView
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- Whale wallets and new accounts are accumulating large amounts of Chainlink (LINK).
- Chainlink’s reserve surpasses 1.5M LINK to support network growth.
- White House mention and high social activity boost adoption signals.
Chainlink (LINK) has been attracting attention due to recent whale activity and growing institutional support.
According to Onchain Lens, newly created wallets have accumulated significant amounts of LINK.
Wallet 0x10D withdrew 202,607 LINK worth $2.7 million, while wallet 0xb59 withdrew 207,328 LINK worth $2.78 million.
This coordinated accumulation suggests that a single entity or institutional player may be building a substantial position in LINK.
These large purchases occurred after a period of relative selling, signalling renewed confidence among major holders.
To confirm this, LINK’s trading volume has increased by roughly 63%, indicating that market participants are taking note.
Chainlink reserve growth and institutional adoption
In addition to the whale accumulation, the official Chainlink reserve update shows that the network has accumulated 87,829.55 LINK in a single day.
This brings the total LINK held in the Chainlink reserve to over 1.5 million tokens.
The Reserve is designed to support long-term growth by acquiring LINK using revenue from enterprise adoption and on-chain service usage.
Such accumulation demonstrates that the network itself is actively investing in its sustainability.
Institutional recognition of Chainlink is also on the rise.
A recent tweet highlighted that Chainlink was mentioned in the White House Digital Asset Report.
RESERVE UPDATE
Today, the Chainlink Reserve has accumulated 87,829.55 LINK.
The Chainlink Reserve now holds a total of 1,504,209.16 LINK.https://t.co/oxMv5N3rFC
The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by… pic.twitter.com/s0jMtlMrtr
— Chainlink (@chainlink) January 8, 2026
This acknowledgement indicates that regulators and government bodies are monitoring LINK adoption and partnerships.
At the same time, social engagement metrics point to a strong community interest.
A recent report by Phoenix Group stated that Chainlink leads gaming projects in social activity, with over 6.2K engaged posts and 1.3 million interactions.
This combination of on-chain accumulation, reserve growth, and social attention reinforces the idea that Chainlink is gaining real-world traction.
Current market context
At press time, Chainlink was trading at $13.15, down roughly 5.5% over the past month.
Its 24-hour trading range is between $13.09 and $13.49, with a market capitalisation of $9.31 billion.
Circulating supply stands at 708 million LINK, while the Chainlink reserve and treasury holdings continue to concentrate significant amounts of the token.
Despite being down over 33% year-to-date, whale accumulation and reserve growth may act as a stabilising force.
Chainlink price forecast
With whale purchases and Chainlink reserve growth, LINK could see support around $13 and attempt to reclaim the $13.7–$14 range.
Sustained accumulation from both new wallets and institutional players may provide upward momentum.
If social engagement and real-world adoption continue, the network could experience renewed interest from investors.
However, price movements will still depend on overall market sentiment and broader cryptocurrency trends.
Chainlink’s combination of on-chain growth, institutional recognition from the White House Digital Asset Report, and robust social activity suggests that a potential bounce in LINK price could be on the horizon.
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