ETH Surges 3.98% as GENIUS Act Spurs $2.9B ETF Inflows and Institutional Confidence

Ethereum (ETHUSDT) has experienced a 3.98% price increase over the last 24 hours, with the current price at $3,702.15 on Binance and a 24-hour opening price of $3,560.55. The recent price uptick is primarily attributed to positive market sentiment following the passage of the GENIUS Act in the U.S., which regulates stablecoins and has boosted institutional confidence and participation. Additionally, strong inflows into Ethereum spot ETFs, estimated at $2.9 billion in July, and reports of significant weekly investments into both Bitcoin and Ethereum ETFs have contributed to the bullish momentum. Market data shows robust trading activity, with a 24-hour volume of approximately $31.70 billion and a market capitalization near $448 billion, reflecting renewed investor interest and strength in reclaiming key price levels.