ETH Surges 5.2% as BlackRock and SharpLink Drive Institutional Demand, Liquid Supply Tightens

Ethereum (ETH/USDT) experienced a notable price increase of 5.20% over the past 24 hours, with the current price at $3,833.10 on Binance. The recent price surge is primarily attributed to strong institutional interest, highlighted by BlackRock's acquisition of 23,870 ETH through its iShares Ethereum Trust ETF and significant corporate investments such as SharpLink Gaming's $200 million stock offering dedicated to ETH purchases. Additionally, a tightening liquid supply—driven by over 32 million ETH staked and only 27% of total supply considered liquid—has contributed to upward price pressure. Despite a net taker volume of -115,400 ETH and a 21% drop in open interest for ETH derivatives, the market remains bullish, supported by robust trading activity and a 24-hour trading volume of $33.35 billion. Ethereum's market capitalization stands at $463.65 billion, reinforcing its position as the second-largest cryptocurrency.