ETH Faces 2.59% Drop as Dormant Wallet Moves 97,000 Coins, Institutional Inflows Surge

Ethereum (ETH) is currently trading at $2,594.18 on Binance, reflecting a 2.59% decline over the past 24 hours, with strong trading volume and a market capitalization near $317 billion. The recent price drop follows significant volatility, including a large dormant wallet moving 97,000 ETH to exchanges and increased institutional accumulation totaling $84.9 million, which has coincided with notable inflows into spot ETH-ETFs. While ETH showed strong performance earlier in the week, outperforming Bitcoin and the DeFi sector and attracting bullish sentiment, technical resistance near $2,720 and profit-taking after rapid gains have contributed to the latest pullback. Ongoing large holder activity and high annualized yields on dual investment products indicate continued market engagement and potential for further volatility.