ETH Sees 4.39% Drop Amid Market Volatility, BlackRock Buys $52.8M as ETFs Surge

Ethereum (ETH) is currently trading at $2,542.65 on Binance, reflecting a 4.39% decline over the past 24 hours with a 24-hour opening price of $2,659.40 and substantial trading volume. The recent price drop is primarily attributed to broader crypto market volatility following macroeconomic developments, including tariff threats from the U.S. administration, which led to a 3% decline on May 23. Despite the short-term pullback, institutional activity remains strong, highlighted by BlackRock’s $52.8 million ETH purchase and significant net inflows into Ethereum ETFs, supported by technical indicators showing continued bullish sentiment. The recent Pectra upgrade and ongoing network improvements are also contributing to sustained investor interest and positive long-term outlook for Ethereum.