ETH Surges 5% as Record ETF Inflows and Trading Volume Drive Breakout Above Resistance

Ethereum (ETH) is currently trading at $2,613.31 on Binance, up 5.14% over the past 24 hours with a significant increase in trading volume and a robust market capitalization. The recent price rally is primarily attributed to strong institutional inflows into spot ETH ETFs, which saw record weekly investments, and heightened ecosystem engagement, as reflected by a long/short ratio of 2.22 and increased funding rates in perpetual futures. These factors, combined with positive sentiment from rising trading activity and liquidity, have driven ETH’s price above key resistance levels, despite recent technical challenges and broader market volatility.