ETH Surges 2% as SEC Clarifies Status, BlackRock ETF Hits 2.71M ETH Holdings, Inflows Top $332M
Ethereum (ETHUSDT) has experienced a 2.03% price increase over the past 24 hours, with the current price at $3,704.21 on Binance. This upward movement is primarily attributed to the U.S. SEC Chair's confirmation that Ethereum is not classified as a security following the passage of the Digital Asset Market Clarity Act, as well as significant institutional activity, including BlackRock's iShares Ethereum Trust ETF reporting holdings of over 2.71 million ETH. Additional drivers include strong investor confidence, notable whale accumulation (over 15,000 ETH acquired from Kraken in the past nine days), and substantial ETF inflows totaling $332.2 million on July 23.
Ethereum maintains its position as the second-largest cryptocurrency, with a market capitalization near $449.5 billion, a circulating supply of approximately 120.71 million ETH, and a 24-hour trading volume ranging from $40.44 billion to $44.89 billion. The 24-hour price range has been between $3,502 and $3,771, reflecting robust market activity and continued bullish sentiment.