ETH Token Drops 3.18% Amid Binance Anniversary, ETF Inflows, and Rising U.S. Staking Activity

ETHUSDT is currently trading at $2,970.87 on Binance, reflecting a 3.18% decline over the past 24 hours from an opening price of $3,068.40. The price decrease is largely attributed to technical resistance at the $3,080 level and recent market volatility, despite positive sentiment from increased institutional inflows into Ethereum ETFs and heightened trading activity. Additional factors such as Robinhood enabling ETH staking for U.S. customers and ongoing discussions about cryptocurrency regulations in China have contributed to increased market attention, but have not offset short-term selling pressure. Over the last day, trading volume has risen significantly, indicating strong market engagement as Ethereum remains a focal point during Binance’s 8th anniversary celebrations.