ETH Surges 2.96% to $4,050 as ETF Inflows and Fed Rate Cut Hopes Drive Momentum

Ethereum (ETHUSDT) has experienced a 2.96% price increase over the past 24 hours, currently trading at $4,050 on Binance. This upward movement is attributed to several factors: a notable net inflow of $73.3 million into U.S. spot Ethereum ETFs, increased holdings by institutional strategy companies, and positive sentiment following Harvard's entry into the crypto market via BlackRock's Bitcoin ETF. Additionally, anticipation of a potential US Federal Reserve rate cut in September has contributed to bullish momentum. The market has seen robust trading activity, with 24-hour volumes between $35.33 billion and $43.49 billion, and Ethereum maintains a strong market capitalization near $485 billion, reinforcing its position as the second-largest cryptocurrency.