ETH Price Drops 3.23% Amid Volatility, But Institutional Accumulation and Staking Hit New Highs

Ethereum (ETHUSDT) experienced a 3.23% price decline over the past 24 hours, with the current price at $2,507.69 on Binance, opening at $2,591.39. The recent price drop is attributed to increased market volatility and bearish sentiment, as evidenced by a notable dip in Ethereum’s price and a decrease in trading volume by 11% to approximately $16 billion. Despite this short-term pressure, institutional accumulation remains strong, with SharpLink Gaming and Amber International both increasing their Ethereum holdings, and on-chain metrics showing a 35.97% rise in accumulation addresses and record-high liquid staking in June. Ethereum remains the second-largest cryptocurrency by market capitalization, with a circulating supply of about 120.72 million ETH and a market cap near $300 billion.