ETH Holds Above $2,700 as Institutional Inflows Hit $699M and Futures Open Interest Surges

Ethereum (ETHUSDT) experienced a 2.61% decline over the past 24 hours, with the price dropping from a 24h open of $2,838.49 to $2,764.30, as reported by Binance. This price correction is primarily attributed to broader crypto market weakness, despite strong institutional inflows into ETH ETFs, which totaled $699 million in June and supported ETH above the $2,700 level. Additionally, Ethereum futures open interest reached a record $20 billion, indicating continued institutional and trader engagement, while daily active addresses rose to 572,000, reflecting increased network activity. Despite the recent pullback, ETH maintains a bullish medium-term structure, consolidating above key support at $2,700, with current trading volume between $28.2 billion and $28.49 billion and market capitalization around $331.4–$333.13 billion. The asset remains in a consolidation phase, with close attention on the $2,800–$2,920 resistance zone for potential further upside.