ETH Surges 6.24% as Institutional Inflows, ETF Buys, and Futures Volume Drive Momentum

Ethereum (ETHUSDT) experienced a 6.24% price increase over the past 24 hours, rising from an open of 2815.40 to a current price of 2991.19 on Binance. The surge is primarily attributed to strong institutional inflows, highlighted by Ethereum ETFs acquiring 129,500 ETH valued at $383.1 million, as well as increased trading activity following Binance’s introduction of Sharia-compliant earning products and anniversary promotions. Additional momentum was provided by Ethereum futures trading volume surpassing Bitcoin’s, with ETH futures reaching $62.1 billion and CME open interest at a multi-month high. The launch of Ethereum staking services by Robinhood and ongoing regulatory discussions have also contributed to heightened market interest and activity.

Currently, Ethereum is trading near $2,991 with a 24-hour volume of 3.43 billion USDT on Binance, reflecting robust trading activity and sustained bullish sentiment.