ETH Surges 8% as $249M BlackRock ETF Inflows and DeFi Boom Drive Bullish Momentum

Ethereum (ETHUSDT) has experienced an 8.13% price increase over the past 24 hours, rising from 2,492.51 to 2,695.16 USDT on Binance. This positive momentum is primarily attributed to renewed institutional interest, highlighted by $249 million in inflows to BlackRock’s Ethereum ETF and record-high ETF inflows totaling $837.5 million over the past three weeks. Additional contributing factors include a 21% jump in DeFi total value locked, increased staking activity, and strong technical indicators, such as breaking key resistance levels and high trading volumes. However, short-term volatility remains due to large transactions by major holders, which have caused brief price swings.

Currently, Ethereum is trading at 2,695.16 USDT on Binance with substantial 24-hour trading volume, a circulating supply of approximately 120.6 million ETH, and a market capitalization near $307 billion, reflecting robust market activity and sustained bullish sentiment.