Ethereum News: Big Whale Moves, Tom Lee $250K Target and ETH 2.0 Phase

Ethereum News Today: Binance ETH Move, Whale Buys and Migration Update

The network is witnessing major developments as whales move millions in ETH and LINK, while institutional figures maintain a long-term bullish outlook. 

F2Pool co-founder Chun Wang’s Binance deposit, a $50 million ETH accumulation, Tom Lee’s $250,000 ETH prediction, and Forma migration highlight growing market activity and shifting investor strategies.

ETH Price Today (UTC)

As of 10:20 UTC (15:50 IST), Ethereum price today is $1,964.08, surging 4.33% in 24 hours. 

Source: CoinMarketCap Data

Ethereum Market Today: Whale Movements  

The price recovery is coinciding with a wave of large wallet activity across multiple corners of the market. Onchain data shows both exchange deposits and fresh accumulation happening within the same 24-hour window, a pattern traders often watch closely for directional cues on where ETH heads next.

What makes today notable is the contrast: one high-profile figure is moving funds toward an exchange, while an anonymous cluster of wallets is doing the opposite, buying off-market aggressively. Movements this size don't confirm direction on their own, but they add important context to why trading volume has spiked alongside the price bounce.

Layer in a bold institutional price target, a Chainlink whale exiting an exchange, and a major chain shutting down entirely, and it becomes clear why Ethereum is generating unusually heavy on-chain chatter today.

Timeline: Key Ethereum Developments (July 2026)

• July 13, 2026 — Tom Lee speaks at WebX 2026 in Tokyo about the 2.0 phase.

• July 25, 2026 — Forma shutdown; NFTs migrating to Ethereum L1.

• July 27, 2026, 03:49 UTC — Chainlink whale withdraws from Binance.

• July 27, 2026, 4:42 UTC— Chun Wang deposits to Binance.

• July 27, 2026, 8:20 UTC — 3 new wallets spending DAI to buy ETHs.

Source: OnchainLens X

F2Pool Co-Founder Chun Wang Deposits $6.93 Million ETH and WBTC to Binance

According to Onchain Lens monitoring, F2Pool co-founder Chun Wang deposited roughly 3,490 ETH ($6.7 million) and 3.51 WBTC ($228,350) to Binance platform, bringing the total transfer value to about $6.93 million. The transfer, tracked via Arkham data, was flagged as occurring within minutes of detection, suggesting active monitoring tools caught it almost in real time.

Deposits of this size to centralized exchanges are typically watched as potential sell-side liquidity, since large holders often move assets to exchanges ahead of a sale. Without further wallet activity, the intent behind Wang's deposit remains unconfirmed.

Source: OnchainLens X

New Whale Wallets Accumulate 25,425 ETH Worth $50 Million Using DAI

In a separate development, Lookonchain reported that three newly created wallets, likely controlled by the same entity, spent 50.04 million DAI over a two-hour window to buy 25,425 ETH at an average price of $1,968. On-chain analysts see this as a bullish signal, since it suggests a large player is willing to commit significant capital at current price levels. 

Ethereum Whale & Market Activity Snapshot

Source: Lookonchain

Tom Lee Predicts Ethereum's Long-Term $250,000 Price Target During ETH 2.0 Phase

At WebX 2026 in Tokyo, BitMine Chairman Tom Lee said Ethereum is entering a "2.0" phase, drawing comparisons to the historic revaluations of Amazon, Nvidia, and JPMorgan. He described a future where it functions as money and a core settlement layer in what he called the "wealth uncanny valley" and the emerging era of AI agents, setting a long-term price target of $250,000.

Lee's comments lean on broader theses, including reports framing network as a form of productive money that generates yield while serving as settlement infrastructure. It's a long-term, high-conviction call rather than a short-term price prediction, and it comes from one of Ethereum's most vocal institutional backers.

BitMine's Ethereum Holdings and Institutional Strategy Explained

BitMine currently holds approximately 5.74 million ETH, equal to about 4.8% of total circulating supply. The firm has led investments in Ethereum Labs and Ethereum Institutional, and says it will continue funding ecosystem projects and public goods going forward. 

Source: Wu Blockchain X

Chainlink Whales Move LINK From Binance to Self-Custody Wallets

Separately, Onchain Lens flagged a whale withdrawing 281.14K LINK, worth roughly $2.45 million, from Binance into self-custody. The receiving wallet had been funded with ETH from Binance 58 days earlier for gas fees, a detail that helped researchers trace and connect the transaction pattern. Self-custody withdrawals like this are commonly interpreted as a sign of long-term holding intent rather than near-term selling.

Forma Chain Shutdown: Migrated To Ethereum L1

In unrelated but significant news, Forma announced it will sunset its chain entirely, citing unsustainable operating costs. The team says Modularium and all Forma NFTs will migrate to Ethereum L1, which it describes as a permanent home where the marketplace and its artwork can exist long-term.

Forma NFT Migration Details: Forma confirmed that NFTs will remain accessible and fully tradable on OpenSea and other Ethereum-based marketplaces once the migration completes. Modularium itself will stay online as the home for these collections, and the team says it is working directly with artists throughout the transition process.

Withdrawal Deadline and Fund Migration Process: Users are strongly encouraged to withdraw funds through the official Forma Bridge ahead of the shutdown. Any funds left unclaimed will be manually migrated to an EVM-compatible chain that has not yet been named, with the team promising further timeline updates as migration steps are confirmed.

Source: Forma Official X

Why These Ethereum Developments Matter for Investors

Each of these events might seem routine. Taken together — a large exchange deposit, fresh whale accumulation, a bold institutional price target, a Chainlink self-custody move, and an entire chain shutting down — they paint a picture of shifting liquidity and confidence across the ecosystem at a moment when price is already showing renewed volatility.

Conclusion

Ethereum news reflects a mix of large exchange deposits, fresh whale accumulation, a bold $250K institutional target from Tom Lee, Chainlink self-custody movement, and a major ecosystem migration reshaping NFT infrastructure. Together, these signals underscore Ethereum's expanding role in the broader crypto market — and traders are watching closely for what comes next.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile; please do your own research before making any investment decisions.