ETH Surges 2.1% as $726M ETF Inflows and US Legislation Drive Market Momentum

Ethereum (ETHUSDT) has experienced a 2.10% price increase over the past 24 hours, with the current price at 3547.62 USDT on Binance, opening at 3474.72. The recent price surge is primarily attributed to strong institutional inflows, notably the $726 million daily net inflow into US-based Ethereum spot ETFs, significant corporate treasury accumulation exceeding 600,000 ETH in the past month, and large on-chain purchases by whale wallets above the $3,340 level. Additional support comes from positive legislative developments in the US, including the passage of a stablecoin bill and discussions on allowing crypto investments in retirement accounts, which have contributed to increased market confidence and trading activity. Trading volume has surged, with a reported 39.50% increase from the previous day, and Ethereum’s market capitalization stands at approximately $429 billion, reflecting a continuation of its strong upward momentum over the past week and month.