ETH Surges 6.89% to $2,582 as Pectra Upgrade, $20.75B Volume, and Whale Moves Fuel Volatility

Ethereum (ETHUSDT) experienced a 6.89% price increase over the past 24 hours, with the current price at $2,582.66 and a 24-hour open of $2,416.15 on Binance. The price surge is attributed to heightened trading activity, reflected in a significant rise in 24-hour trading volume to $20.75 billion, and notable on-chain movements such as the transfer of 60,000 ETH from Arbitrum to an exchange. This period also saw over $34 million in Ethereum long position liquidations, indicating increased volatility and potential selling pressure from large holders. The recent implementation of the Pectra upgrade has contributed to renewed interest in Ethereum’s ecosystem, while shifting wallet balances suggest changing dynamics among holders. Overall, Ethereum remains the second-largest cryptocurrency by market capitalization, with its circulating supply at approximately 120.72 million ETH.