#Ethereum (ETH) Price News & Insights Today 7-2-2026 - Technical analysis of #ETH, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
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As of February 7, 2026, Ethereum (ETH) is trading at approximately $2,008.51, reflecting a slight daily decline of 0.96%. The market is currently navigating a period of high volatility; prices fell sharply to a low of $1,750 on February 4—the lowest level since April 2025—following the collapse of a $2 billion leveraged long position by trading firm Trend Research. Despite these short-term liquidations, the network continues to scale, with registration gas costs on ENSv2 reportedly down by 99% over the past year.
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Ethereum Insights
-Major Liquidation Event: The trading firm Trend Research suffered a $686 million loss after its leveraged ETH bet was liquidated earlier this week as prices slid below $1,750. The firm reportedly moved 332,000 ETH (approx. $700M) to Binance to repay debts on the Aave platform.
-Whale Activity: On-chain data detected a significant withdrawal of 20,520 ETH from a centralized exchange by a Gnosis Safe multisig address today, typically viewed as a move toward long-term self-custody.
-Network Upgrades: Development focus remains on the upcoming Glamsterdam fork, intended to increase the mainnet gas limit from 60 million to 200 million and push Ethereum toward a long-term goal of 10,000 transactions per second (TPS).
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