ETH Token Sees 2.28% Drop Amid Resistance at $3,040 Despite Record $0.32B Fund Inflow

Ethereum (ETHUSDT) experienced a 2.28% decline over the last 24 hours, with the price dropping from 2984.58 to 2916.50. This short-term price decrease is attributed to a combination of factors, including a recent dip in trading volume and a pullback after failing to break through the key resistance zone near $3,040. While the broader market sentiment remains cautious due to ongoing regulatory discussions in Shanghai and mixed technical signals, there was notable accumulation by major wallets and a record net inflow of $0.32 billion into BlackRock's ETHA fund earlier in the week, which had previously supported upward momentum.

Currently, Ethereum is trading at 2916.50 USDT on Binance with a circulating supply of approximately 120.7 million ETH and a market capitalization near $354 billion, reflecting active trading and continued investor interest despite recent volatility.