ETH Slides 3.35% After $3.6B Options Expiry and Institutional Outflows Amid Holiday Volatility

Ethereum (ETH/USDT) experienced a 3.35% price decline over the past 24 hours, with the current price at $2,487.66 on Binance, opening at $2,573.80. This drop is primarily attributed to heightened market volatility following the expiration of approximately $3.6 billion in Ethereum options contracts, which often triggers short-term price swings. Additional contributing factors include significant institutional wallet outflows, with large withdrawals by Matrixport and Abraxas Capital from major exchanges, and a slight net outflow of $2 million from Ethereum. Lower liquidity due to the U.S. Independence Day holiday has also amplified market fluctuations.

Despite the recent decline, Ethereum maintains a strong position as the leading DeFi platform with $63 billion in total value locked and a market capitalization near $300 billion. Trading volume in the last 24 hours ranged from $15.17 billion to $15.90 billion, with ETH/USDT on Binance accounting for over $1 billion. Ethereum’s price fluctuated between a high of $2,603.60 and a low of $2,474.56 during this period.