ETH Surges 8.47% as Spot ETF Inflows Top $1B and Network Scalability Boosts Transactions

Ethereum (ETHUSDT) has surged 8.47% in the past 24 hours, with its price rising from 4252.46 to 4612.75 on Binance, driven primarily by record inflows into Spot Ethereum ETFs, which exceeded $1 billion, and strong institutional buying activity. Additional support for the price increase comes from improved network scalability following a recent gas limit hike, leading to nearly 1.9 million daily transactions and reduced fees. Robust trading volumes, including over 785,000 ETH traded on Binance and a total 24-hour volume increase of 17.7%, reflect heightened market activity and investor interest. Ethereum’s market capitalization now stands at approximately $553.98 billion, maintaining its position as the second largest cryptocurrency and recently surpassing Mastercard’s market cap.