ETH Price Drops 2.11% Amid $1B Market Liquidation, Trading Volume Soars 163% on Geopolitical Tensions

Ethereum (ETH) experienced a 2.11% price decline over the past 24 hours, with the current price at $2,232.21 (24h open: $2,280.40) on Binance. This drop is primarily attributed to heightened geopolitical tensions, particularly between the US and Iran, which triggered significant liquidations across the crypto market, including a $1 billion market-wide event. Large-scale selling and increased volatility were further amplified by a 163.6% surge in trading volume to $30.15 billion, as investors reacted to the broader market correction. Despite the decline, notable whale and institutional purchases, as well as continued ETF inflows, indicate ongoing confidence in ETH’s long-term prospects. Ethereum remains the second-largest cryptocurrency by market capitalization ($294.58 billion), with a circulating supply of approximately 120.2 million ETH and sustained high market participation.