ETH Surges 5.63% as Institutional Inflows, ETF Milestones, and Pectra Upgrade Drive Market Momentum

Ethereum (ETHUSDT) has experienced a notable price increase of 5.63% over the past 24 hours, with the current price at 2976.02 USDT on Binance, up from a 24h open of 2817.44 USDT. This upward movement is primarily attributed to strong institutional inflows into U.S. spot Ethereum ETFs, including BlackRock’s iShares Ethereum ETF reporting a weekly trading volume of $912 million and $4.7 billion in assets under management, as well as four consecutive days of positive ETF net inflows totaling $468.63 million. Additional momentum was provided by the recent purchase of 10,000 ETH by SharpLink from the Ethereum Foundation and the launch of the Sharia Earn product on Binance, which supports ETH and offers interest-free earnings to users in selected countries. The broader market rally, led by Bitcoin, and the successful implementation of the Pectra upgrade, which enhances Ethereum’s scalability and staking, have further contributed to increased trading activity and bullish sentiment.

Ethereum’s 24-hour trading volume has ranged between $42.6 billion and $52 billion, with a trading range from a low of $2,758 to a high of $3,040, and a market capitalization of approximately $361 billion, reinforcing its position as the second-largest cryptocurrency by market cap.