ETH Price Dips 2.63% Amid $227M Liquidations, ETF Outflows, and Surging Network Activity

Ethereum (ETHUSDT) experienced a 2.63% price decline over the past 24 hours, with the current price at $3,579.49 according to Binance data. This downturn is attributed to heightened market volatility, including a $227 million global crypto liquidation event and significant institutional activity such as large ETH purchases and transfers by whales, as well as notable redemptions from U.S. spot Ethereum ETFs totaling over $600 million in recent days. Despite these outflows, July saw strong net inflows into Ethereum ETFs, reflecting ongoing institutional interest. Ethereum’s daily active addresses surpassed 674,000, matching levels from the 2021 bull cycle, indicating robust network activity. The 24-hour trading volume stands at approximately $27.07 billion, with the asset’s market capitalization at $433.12 billion, maintaining its position as the second-largest cryptocurrency.