Ethereum (ETH) Price: Whales Purchase $322 Million as CLARITY Act Moves Toward Markup

TLDR

• Ethereum whales amassed 140,000 ETH (valued at $322 million) over a 96-hour period, despite the price remaining stagnant around $2,300.
• The U.S. Senate’s CLARITY Act is moving forward following a compromise on stablecoin yield, with a markup scheduled for May 11.
• ETH has gained approximately 12% in the last 30 days and is trading at roughly $2,305 as of this writing.
• $2,400 is the closest critical resistance level; a clear break above it could open the path to $2,600 and subsequently $2,800.
• $2,200 continues to be a crucial support level; falling below it would bring the $1,900 range back into consideration.

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(SeaPRwire) –   Ethereum (ETH) is currently trading around $2,305 as large whale wallets quietly accumulate the asset, while a significant U.S. cryptocurrency bill edges closer to a vote.

Per data from Ali Charts, big ETH holders added more than 140,000 ETH over 96 hours from May 1 to May 3, amounting to around $322 million in purchases. Whale holdings increased from roughly 13.78 million ETH to almost 13.98 million ETH, reflecting consistent accumulation rather than a one-time large transfer.

Whales have gone on a buying spree, accumulating over 140,000 Ethereum $ETH in the last 96 hours, worth around $322 million. pic.twitter.com/uHZqV3B0W9

— Ali Charts (@alicharts) May 3, 2026

Even with this buying activity, ETH’s price movement has been subdued. The asset saw a 0.1% gain in the last 24 hours but is still down approximately 1% over the past week, with daily trading volume at $6.8 billion.

CLARITY Act Moves Closer to a Vote

The more significant factor influencing ETH’s market sentiment might be regulatory developments. The CLARITY Act, a bill establishing a stablecoin framework, had been stalled in the U.S. Senate due to a disagreement over whether stablecoin holders should earn yield. Banks opposed the proposal, while Coinbase resisted any restrictions.

CLARITY ACT PASSAGE ODDS RISE ABOVE 60% ON POLYMARKET

For the first time in a month, odds of the CLARITY Act passing in 2026 have climbed above 60%, peaking 69% on May 2. pic.twitter.com/yX3rStDRIp

— Coin Bureau (@coinbureau) May 3, 2026

Senator Tillis mediated a compromise. Coinbase’s Chief Legal Officer Paul Grewal stated that the impasse was unnecessary from the start but expressed approval of the resolution. Galaxy crypto analyst Alex Thorn, who earlier estimated a 50% chance of the CLARITY Act passing this year, has revised his outlook and now anticipates a Senate markup on May 11.

Key Price Levels Traders Are Monitoring

Analyst Daan Crypto Trades pointed out on X that Ethereum is currently facing resistance at the weekly 200 moving average, which is a logical spot for consolidation. He highlighted $2.1K as a key level for longer-term timeframes and mentioned that breaking above $2,400–$2,500 could lead to a test of $2,800.

$ETH So far being rejected by the Weekly 200 Moving Average. A logical place to consolidate at for a bit.

Below, that $2.1K level remains key on the higher timeframes.

A break above ~$2.4K-$2.5K should lead to another test of $2.8K which has been important over the past few… pic.twitter.com/icqYsOjVNB

— Daan Crypto Trades (@DaanCrypto) May 2, 2026

ETH has been forming higher lows ever since it found support in the $1,800–$2,000 range earlier this year. A falling wedge pattern is emerging on the chart, which some analysts interpret as a possible bullish reversal indicator.

$2,200 continues to be the support floor traders are monitoring; a drop below this level could push the $1,900 range back into focus. On the upside, $2,400 is the initial resistance to overcome, and a clear break above it could aim for $2,600 followed by $2,800.

The latest on-chain data indicates that whale wallets are still accumulating ETH, with their holdings reaching almost 13.98 million ETH as of May 3.