ETH Slides 3.59% Amid Geopolitical Tensions, Yet Staking Hits Record 35 Million Tokens

Ethereum (ETHUSDT) declined 3.59% over the past 24 hours, with the price falling from 2518.50 to 2428.18, primarily due to heightened geopolitical tensions from the Israel-Iran conflict and cautious investor sentiment following recent Federal Reserve statements. These factors triggered risk-off behavior and increased selling pressure, despite technical indicators such as a confirmed golden cross and record on-chain staking (over 35 million ETH locked) supporting the network’s fundamentals. The market is currently consolidating around the $2,400–$2,500 range, with 24-hour trading volume remaining robust at approximately $22.8 billion and circulating supply at 120.72 million ETH, while net exchange outflows indicate ongoing accumulation by large holders.