ETH Surges 8% as BlackRock Buys $158.6M and Ether ETF Inflows Top $11 Billion

Ethereum (ETHUSDT) experienced an 8.13% price increase over the last 24 hours, rising from a 24h open of 2789.49 to a current price of 3016.14 USDT on Binance. This upward movement is primarily attributed to significant institutional activity, including BlackRock's purchase of $158.6 million in ETH and continued strong inflows into Ether ETFs, which saw net inflows of $46.63 million and have now surpassed $11 billion in total assets. Additional support comes from the Ethereum Foundation's transfer of 1,000 ETH and sustained investor confidence, as reflected in increased trading volumes and positive technical signals, though some caution that the market is currently overbought.

Ethereum's market capitalization stands between $355.32 billion and $364.10 billion, with a 24-hour trading volume of approximately $44.98 billion and a circulating supply of about 120.72 million ETH, reinforcing its position as the second-largest cryptocurrency by market cap.