Ethereum Faces 2.73% Drop as High Volume Meets ETF Delays and Sui Network Hack Fallout

Ethereum is currently trading at $2,561.00 on Binance, with a 24-hour opening price of $2,632.88 and a price change of -2.73%, while 24-hour trading volume remains high, reflecting sustained market activity and a market capitalization above $300 billion. The recent price decline is attributed to a combination of factors including the U.S. SEC's delay in approving a spot Ethereum ETF, significant asset movements related to the Sui Network's Cetus Protocol hack, and mixed institutional flows—despite notable inflows into Ethereum ETFs and increased holdings by large investors, broader market sentiment and regulatory uncertainty have contributed to short-term downward pressure on ETH’s price.