ETH Surges 3.19% as $5B ETF Inflows and Whale Accumulation Drive Price Above $2,630

Ethereum (ETH) experienced a 3.19% price increase over the last 24 hours, rising from a 24h open of $2,553.59 to a current price of $2,634.99 on Binance. This price movement is primarily attributed to significant institutional inflows, including over $5 billion into spot ETH ETFs and a net inflow of $528.2 million from June 9 to 13, 2024, alongside new ETF filings such as Trump’s media company proposal and Crypto.com’s role as custodian. Additional bullish momentum was driven by strong whale accumulation and Ethereum outperforming other major cryptocurrencies during a period of heightened volatility and increased liquidations, partly triggered by geopolitical tensions.

Currently, Ethereum is trading robustly above $2,630, with 24h trading volume surging and market capitalization above $300 billion, reflecting renewed investor confidence and active market participation.