Arthur Hayes Buys More ETH as Analysts Eye $2.3K and Beyond

Ethereum’s price has joined the overall market rally on Tuesday, climbing above $1,900 for the second time in the past week. Naturally, analysts have rushed to offer their insight on why they believe the token will keep surging to new local (and all-time) highs. Meanwhile, the former CEO of BitMEX has doubled down on his recent bullish behavior toward Ethereum with a fresh purchase. Data shared by Lookonchain showed earlier today that wallets linked to the famous crypto personality spent over $2.5 million to acquire 1,332.5 ETH. This is Hayes’ second multi-million-dollar Ethereum accumulation made in the past week. As reported on July 16, he bought 1,293 ETH for the same amount when the asset’s price traded above $1,900 for the first time in months. Interestingly, that purchase came shortly after he had sold over $10 million worth of the largest altcoin at prices of just under $1,700. As such, he continues to acquire more ETH tokens when the asset rallies, but tends to dispose of them once it corrects. Arthur Hayes(@CryptoHayes) bought another 1,332.5 $ETH($2.53M) 3 hours ago.https://t.co/gau6egd7Vmhttps://t.co/iKDlaSftbq pic.twitter.com/YKgXPCVe2Z — Lookonchain (@lookonchain) July 20, 2026 Separately, Lookonchain added that Ethereum whales have gone on a substantial accumulation spree as well. This one purchased roughly $13.5 million worth of the asset. Another one spent $20 million to buy 10,501 ETH, and this one withdrew 12,800 ETH from Binance. As mentioned above, the second-largest cryptocurrency has jumped past $1,900, and analysts were quick to point out its potential. KALEO believes ETH will rise toward $2,300 within the next month, but it might dump even harder in September toward new multi-year lows of $1,200. Crypto Patel noted that ETH is “trading where long-term wealth is often built.” The analyst pointed out the $1,200-$1,800 range as the accumulation zone, and outlined some massive targets between $1