ETH Surges 5.38% as Spot ETF Inflows Hit $726M, Market Cap Climbs to $414 Billion

Ethereum (ETHUSDT) has experienced a notable price increase over the past 24 hours, rising 5.38% to a current price of 3,427.53 USDT on Binance. This upward movement is primarily attributed to record institutional inflows into spot Ethereum ETFs, with a single-day net inflow of $726 million and significant participation from BlackRock's iShares Ethereum Trust. Additional bullish sentiment is supported by increased corporate ETH holdings, heightened social media activity, and large-scale accumulation by a small number of addresses. However, technical indicators suggest the asset may be in overbought territory, and at least one major investor has opened a substantial short position, indicating some market caution.

Ethereum’s 24-hour trading volume has surged, with market capitalization now around $414 billion and a circulating supply of approximately 120.71 million ETH, reinforcing its status as the second-largest cryptocurrency by market cap.