ETH Surges 6.79% as BlackRock Leads $158M Institutional Wave, Spot ETFs Drive Volume

Ethereum (ETHUSDT) has experienced a notable price increase over the last 24 hours, rising 6.79% on Binance to $2,976.78 from a 24-hour open of $2,787.39. This upward movement is primarily attributed to several key factors: increased bullish sentiment driven by significant institutional activity, including BlackRock’s $158.6 million ETH acquisition and other corporate treasury purchases, as well as strong inflows into spot ETH ETFs. Additionally, heightened market activity is reflected in a surge in trading volume, with reports of large transfers such as a $237 million ETH move to exchanges. These developments have contributed to Ethereum breaking through key resistance levels and sustaining its position as the second-largest cryptocurrency by market capitalization. Current trading volume and market cap remain elevated, underlining continued strong investor interest and momentum in the ETH market.