ETH Surges 2.18% as Institutional Inflows Hit $703M, BlackRock ETF Sets New Record

Ethereum (ETHUSDT) experienced a 2.18% price increase over the past 24 hours, with the current price at $3,611.12 on Binance. This upward movement is primarily attributed to strong institutional inflows, particularly into Ethereum ETFs, which saw net weekly inflows of $703 million and a record $300 million in a single day for BlackRock’s ETHA. Additional drivers include bullish technical momentum, with Ethereum breaking key resistance levels and trading above major moving averages, as well as positive sentiment from recent news coverage highlighting potential for further gains. However, the market also saw significant liquidations—$147 million in long positions and $69.5 million in shorts—reflecting ongoing volatility and active trading.

Currently, Ethereum maintains its position as the second-largest cryptocurrency by market capitalization, with a 24-hour trading volume near $27 billion and a price range between $3,450 and $3,673, indicating continued volatility and strong market participation.