Wrapped Ether has emerged as a focal point for institutional and large-scale trader activity, with on-chain data revealing 113,000 whale transactions above $100,000 in the past week — the highest weekly level since May 2021. The surge, documented across multiple analytics platforms on July 20-21, 2026, signals a structural shift in how large capital is engaging with Ethereum's ecosystem, moving beyond idle holdings into active deployment across trading, lending, and liquidity infrastructure.