ETH Drops 5.54% Amid High Institutional Activity, ETF Inflows, and SEC Decision Delay

Ethereum (ETH) experienced a notable price decline of 5.54% over the last 24 hours, dropping from a 24-hour open of $2,605.11 to a current price of $2,460.80 on Binance. This downward movement is primarily attributed to increased selling pressure following significant institutional activity, including a large OTC purchase of 108,278 ETH and substantial ETF inflows, which may have prompted profit-taking and heightened market volatility. Additionally, the U.S. SEC's postponement of the SUI spot ETF decision and a 17% drop in total value locked on Ethereum have contributed to market uncertainty. Despite strong institutional inflows into Ethereum ETFs and new ecosystem support initiatives by the Ethereum Foundation, technical resistance at key levels and broader market volatility have weighed on price performance. Trading volume remains high at $32.20 billion, with Ethereum’s market cap now around $291.60 billion and total supply at approximately 120.72 million ETH.