ETH Drops 3.35% Amid ETF Outflows and Profit-Taking, But On-Chain Accumulation Signals Resilience

Ethereum (ETH) experienced a 3.35% price decline over the past 24 hours, with the price dropping from a 24h open of $2,642.17 to $2,553.70 on Binance. This decrease follows significant on-chain activity, including a transfer of 2,000 ETH by an early ICO participant and net outflows from Ethereum spot ETFs totaling 3,748 ETH, led by a large withdrawal from the Fidelity fund. Despite these outflows, on-chain data shows continued accumulation by investors and a reduction in exchange reserves, indicating a long-term holding trend. Increased trading volume—up over 63% to approximately $22.8–$24.0 billion—reflects heightened market participation amid recent volatility. Ethereum’s total value locked remains the highest among blockchains at $61.42 billion, and institutional engagement continues, as seen with new stablecoin launches and ETF inflows. Overall, the recent price drop is attributed to profit-taking and ETF outflows, balanced by ongoing accumulation and robust trading activity.