ETH Surges 2.13% as $369 Million Institutional Inflows and ETF Records Boost Momentum

Ethereum (ETHUSDT) has experienced a 2.13% price increase over the past 24 hours, with the current price at $3,017.84 on Binance. The recent price rise is primarily attributed to significant institutional inflows, including SharpLink Gaming's addition of nearly $49 million in ETH to its treasury and record net inflows into Ethereum ETFs, notably BlackRock's ETHA fund with a $320 million inflow. Increased trading activity is reflected in a 24-hour trading volume of $20.44 billion, while technical momentum and large investor acquisitions have further supported bullish sentiment. However, some analysts note caution due to resistance near $3,040 and signs of potential selling pressure. Overall, Ethereum maintains a strong position with a market capitalization of $362.40 billion and a circulating supply of approximately 120.72 million ETH, with ETH/USDT remaining the most active trading pair.