ETH Sees 3.47% Dip Amid Profit-Taking, Yet On-Chain Data Shows Strong Accumulation and Record Activity

Ethereum (ETH/USDT) experienced a 3.47% price decline over the past 24 hours, with the current price at 3,602.35 USDT on Binance, opening at 3,731.88 USDT. The price drop is attributed to recent profit-taking by investors following a period of strong inflows into Ethereum spot ETFs, which saw over 588,000 ETH added last week—significantly above historical averages. Despite the short-term bearish movement, on-chain data indicates continued accumulation by large holders and increased network activity, as daily transactions reached a multi-year high of 1.51 million. The 24-hour trading volume for ETH/USDT on Binance was 2.62 billion USDT, with Ethereum maintaining its position as the second-largest cryptocurrency by market capitalization, currently estimated between $436.37 billion and $454.457 billion. Overall, while short-term volatility persists, institutional interest and network fundamentals remain strong.