ETH Surges 5.54% on Binance as $2.5B Whale Accumulation Counters $875M Market Liquidations

Ethereum (ETH) experienced significant volatility in the past 24 hours, with over $875 million liquidated across the crypto market, reflecting heightened risk and trading activity. The price on Binance rose 5.54% over the last 24 hours, opening at $2,183.50 and reaching $2,304.52, recovering from a sharp flash crash to $2,224 that was met by rapid buying and a surge in trading volume. This rebound is attributed to strong whale accumulation, with major holders purchasing $2.5 billion in ETH during June and showing no signs of large-scale selling, which has supported market confidence amid broader uncertainty and Bitcoin-led market weakness. Ethereum remains actively traded, with robust 24-hour volumes and a current market cap near $275–$295 billion, but continues to face downward pressure from recent highs, ETF outflow concerns, and competition from Bitcoin and other chains.