ETH Token Drops 8.56% After 15-Week High Despite Strong Institutional Inflows and Record Futures

Ethereum (ETHUSDT) experienced a sharp decline of 8.56% over the past 24 hours, with the price dropping from a 24h open of $2,756.60 to $2,520.70 on Binance. This price drop follows a period of heightened volatility and comes after ETH reached a 15-week high earlier in the week, driven by strong institutional inflows—such as BlackRock’s addition of 58,100 ETH to its iShares Ethereum Trust—and record futures open interest above $20 billion. The recent correction is attributed to profit-taking by large holders after the rally, increased market volatility, and a broader risk-off sentiment impacting crypto markets. Despite this pullback, Ethereum maintains high trading volume ($29.3–$35.5 billion 24h), substantial market capitalization ($336.5–$344.6 billion), and strong cross-chain inflows, with ongoing institutional and retail participation continuing to support its medium-term outlook.