ETH Surges 4.68% to $2,587 as ETF Inflows and House Bill Fuel Bullish Momentum

Ethereum (ETHUSDT) rose 4.68% in the last 24 hours, reaching $2,587.62 on Binance, with a 24-hour trading volume surge attributed to heightened volatility and significant market events. The price increase is primarily linked to anticipation around the "Big Beautiful Bill" approaching a House vote, which has boosted overall crypto sentiment, as well as continued strong institutional interest evidenced by robust ETF inflows and BitDigital’s $163 million raise. Despite over $310 million in leveraged ETH liquidations and net ETF outflows, the ETH/USDT perpetual futures pair led the market in trading volume, and the long/short ratio of 2.36 suggests ongoing bullish sentiment. Ethereum’s market capitalization stands at approximately $313 billion, with a circulating supply of about 120.72 million ETH, and recent price action has been volatile, fluctuating between $2,431 and $2,619 over the past day.