ETH Drops 9.1% Amid Geopolitical Tensions, Yet Trading Volume and Wallet Growth Signal Resilience

Ethereum (ETH) experienced a sharp price decline of 9.10% over the past 24 hours, with the current price at $2,202.25 (Binance), down from a 24h open of $2,422.75. This drop is primarily attributed to heightened selling pressure across the broader crypto market, triggered by increased market volatility and geopolitical tensions, notably a recent military operation involving Israel and Iran. Despite this downturn, Ethereum saw a surge in trading volume (up over 30% in the last day), reflecting intensified speculative activity and rapid trader response to price swings. Key market metrics include a market capitalization fluctuating between $264.25 billion and $273.49 billion, 24-hour trading volume of $22.49–$25.95 billion, and a volume/market cap ratio of 8.22%–9.74%. Institutional accumulation and strong net inflows to US Ethereum spot ETFs, along with a 33% year-over-year increase in new wallet creation, indicate ongoing long-term interest and network growth despite recent volatility.