ETH Token Drops 3.96% Amid $60M Liquidations, Yet Institutional Inflows Top $148M in 24 Hours

ETHUSDT is currently trading at $2,492.02 on Binance, reflecting a 3.96% decline over the past 24 hours from a 24h open of $2,594.83. This price decrease is primarily attributed to significant liquidation events, with $22.52 million in long liquidations and $37.97 million in short liquidations, as well as ongoing consolidation below key resistance levels near $2,428–$2,432. Additional pressure may stem from the temporary suspension of the Grayscale Digital Large Cap Fund (GDLC) ETF approval by the U.S. SEC, which includes ETH, contributing to cautious sentiment. Despite the recent decline, institutional interest remains strong, as evidenced by $148.5 million in net inflows into Ethereum-linked ETFs over the past day and nearly $331 million over the past week. Trading volume remains robust, exceeding $15 billion in the last 24 hours, with Ethereum maintaining a market capitalization above $300 billion and a circulating supply of over 120 million ETH.