ETH Surges 5.73% as $2.22B Liquidations and $300M ETF Inflows Fuel Bullish Momentum

Ethereum (ETHUSDT) has experienced a notable price increase of 5.73% over the past 24 hours, rising from 3139.48 to 3319.48 USDT on Binance. This upward movement is primarily attributed to a combination of factors, including significant market liquidations totaling over $2.22 billion (with $605 million related to ETH), large institutional inflows such as BlackRock's ETHA ETF recording a $300 million single-day inflow, and increased staking activity by entities like SharpLink Gaming. Additionally, Ethereum has shown resilience by rebounding from key support levels and breaking above resistance zones, which has contributed to bullish sentiment and heightened trading activity.

Currently, Ethereum is trading at 3319.48 USDT with a 24-hour trading volume of 1.13 million ETH (3.67 billion USDT) on Binance, reflecting strong market participation and solidifying its position as the second-largest cryptocurrency by market capitalization.