ETH Surges 5.9% as Institutional Inflows and ETF Approval Drive Record Trading Volumes

Ethereum (ETHUSDT) has experienced a 5.90% price increase over the last 24 hours, rising from a 24-hour open of 2622.05 to a current price of 2776.65 on Binance. This upward movement is primarily attributed to continued strong institutional inflows into spot-based Ethereum ETFs, including the recent approval of the Grayscale Digital Large Cap Fund ETF, as well as positive sentiment following Ethereum’s 2.5% rise and robust weekly fund inflows totaling $226.4 million. Additional market support comes from increased trading activity, with ETH/USDT trading volume on Binance reaching 854,034.45 ETH (approximately 2.34 billion USDT), and a notable surge in overall market interest as Ethereum futures trading volume has surpassed that of Bitcoin. The current market capitalization stands at approximately $335.88 billion, with Ethereum maintaining its position as the second-largest cryptocurrency by market cap.