ETH Surges 4.17% as Spot ETF Inflows, Record Staking, and Network Upgrade Drive Bullish Momentum

Ethereum (ETHUSDT) experienced a 4.17% price increase over the past 24 hours, rising from 2,682.75 to 2,794.50 on Binance. The price surge is primarily attributed to significant net inflows into US spot Ethereum ETFs, including a $52.7 million total inflow on June 9 led by BlackRock’s ETHA ETF, as well as record-high staking levels reaching 34.65 million ETH. Additional drivers include the recent Pectra network upgrade, which improved scalability and validator limits, and heightened institutional activity, evidenced by large OTC transactions and whale profits. Increased on-chain activity, with unique Ethereum addresses hitting all-time highs, and positive sentiment from regulatory developments have also contributed to renewed investor confidence and strong trading volumes. Ethereum’s current price strength, supported by robust trading activity and growing network usage, reflects sustained bullish momentum in the market.