ETH Surges 6.24% as Institutional Inflows, ETF Demand, and Whale Activity Drive $3,000 Breakout

Ethereum (ETH/USDT) has experienced a significant price increase of 6.24% over the past 24 hours, with the current price at 2,995.40 USDT on Binance. The recent surge is primarily attributed to increased institutional interest, including substantial inflows into spot ETH ETFs and corporate treasury purchases such as SharpLink Gaming's acquisition of 7,689 ETH. Additionally, a large holder unstaked 155,837 ETH and transferred 120,918 ETH to exchanges, which contributed to heightened trading activity and arbitrage opportunities due to price discrepancies between platforms. Strong buying momentum and the break above key resistance levels have further supported the bullish trend.

Ethereum's 24-hour trading volume has been robust, with figures ranging from $43.54 billion to $52.69 billion, and the asset reached a high of approximately $3,040.15 and a low of $2,795.78. The overall market capitalization stands at about $362.02 billion, and the weekly and monthly trends show continued upward movement, reflecting renewed investor confidence and sustained interest in the asset.