Ethereum

Ethereum to $2,400? BlackRock’s latest $41.9M buy may be just the start it needs!

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Massive institutional support has certainly helped the altcoin’s fortunes.

Posted: March 5, 2026 Avatar

By: Emilio Munoru Journalist Edited By: Jibin Mathew George Ethereum to $2,400? BlackRock's latest $41.9M buy may be just the start it needs!

Emilio Munoru Journalist Edited By: Jibin Mathew George Posted: March 5, 2026 Share this article

Ethereum is back above $2,000 for the third time in March 2026, powered by a wave of institutional buying.

BlackRock’s sustained backing, along with other institutional moves, has solidified Ethereum’s position despite ongoing market volatility. Ethereum now faces a major wall – Will it break through or falter once again?

BlackRock buys $41.9M in Ethereum, fueling momentum

On 03 March 2026, BlackRock bought $41.9 million worth of Ethereum, giving the market a solid boost.

Despite $10.8 million in short-term ETF outflows, led by Fidelity with $66.7 million in outflows, Grayscale’s ETHE saw $4.7 million in outflows while its Ethereum fund brought in $18.7 million.

Source: X

BlackRock’s bold move made one thing clear – It isn’t about quick profits. It is about long-term belief in Ethereum’s future.

This is no small move. Institutions have been driving Ethereum’s price, and BlackRock’s actions have made it clear the big players may be in it for the long haul. Their decision to keep buying through market turbulence speaks volumes about their confidence.

Network activity hits historic highs with 82% growth in active addresses

By 04 March, Ethereum’s network activity had surged, with daily active addresses reaching 837.2k – Up 82%. According to Santiment analysts, 284.8k new Ethereum addresses were created daily too – A 64% uptick.

Source: Santiment

These figures are illustrative of Ethereum’s organic growth and adoption. The network is thriving, supported by real user growth, ensuring a strong future.

Can Ethereum break $2,150 and reach $2,400?

At the time of writing, Ethereum was trading at $2,075, pushing against its local resistance on the price charts.

The 4-hour timeframe chart revealed strong momentum, with an ascending triangle signaling that a breakout may be near. Clear this resistance, and $2,400 would be possible, setting ETH up for a major rally.

Source: TradingView

The MACD and RSI flashed signs of strong bullish momentum too. The MACD crossover was solid, and the RSI was gaining strength.

Put simply, Ethereum’s price seemed poised to break through resistance and move towards $2,400. However, if it loses the ascending support, there could be downside risk. However, with aggressive institutional buying continuing, that outcome might be unlikely.

With strong institutional support and record network activity, Ethereum is ready for its next big move. The coming headlines will show if it can break free.

Final Summary

Ethereum’s price surge has been driven by institutional buying and impressive network activity.
If Ethereum clears the $2,150 resistance, $2,400 will be the next target.

Next: Bitcoin: Shorts still dominate BTC – But buyers are fighting back Share

Emilio Munoru

Emilio is a cryptocurrency journalist, with a focus on breaking market news, Bitcoin and altcoin ETF flows, whale activity, liquidity moves, and major exchange listings. His coverage blends technical analysis with macro and on-chain data, helping readers understand how institutional behavior and new market catalysts drive volatility across digital assets. More Articles