ETH Surges 8.61% to $3,426 as ShariahEarn Launch, ETF Inflows, and Whale Buys Drive Rally

Ethereum (ETHUSDT) has experienced a significant price increase of 8.61% over the past 24 hours, with the current price at 3,426.89 USDT on Binance. This upward movement is primarily attributed to a combination of factors: the launch of ShariahEarn, a halal-certified ETH staking service, continued inflows into Ethereum spot ETFs totaling $192.33 million on July 15, and substantial whale accumulation exceeding $540 million in ETH. Additional drivers include a technical breakout above long-term resistance at $2,900, increased open interest in Ether futures, and heightened network activity following the recent Pectra upgrade, which has improved scalability and staking.

Currently, Ethereum is trading at 3,426.89 USDT with a 24-hour open of 3,155.29 and robust trading volumes, reflecting strong market momentum and renewed investor confidence.