ETH Drops 7% to $2,422.98 Despite BlackRock Acquisition and $438M Inflows Amid Market Volatility

Ethereum (ETHUSDT) is currently trading at $2,422.98 on Binance, reflecting a 7.16% decline over the past 24 hours from an opening price of $2,609.90. The recent price drop can be attributed to broader macroeconomic pressures, including a risk-off sentiment in global markets following declines in major indices such as the NASDAQ on June 4, 2025. Despite positive developments such as BlackRock’s acquisition of up to 214,000 ETH and strong net inflows of $438.4 million into the Ethereum ecosystem, these factors were outweighed in the short term by market volatility and profit-taking after a period of notable gains earlier in the week. Ethereum’s fundamentals remain robust, with over 27% of supply staked and ongoing deflationary mechanisms, but the current trading environment is characterized by heightened volatility and sensitivity to external financial market movements.

Ethereum’s current price on Binance is $2,422.98, with high trading volume and a recent 7.16% 24-hour decline, following a week of strong upward momentum and continued investor activity.