ETH Price Drops 6.23% Amid $33M Foundation Selloff and $12.1B ETF Inflows

Ethereum (ETHUSDT) experienced a 6.23% price decrease over the past 24 hours, with the current price at $4,257.73 on Binance. The decline follows notable profit-taking activity, including the Ethereum Foundation-linked wallet selling 7,294 ETH worth approximately $33.25 million, and ongoing market consolidation after a strong rally in July and early August. Despite significant institutional accumulation, such as BlackRock acquiring 74,385.35 ETH and ETF inflows exceeding $12.1 billion, short-term volatility was amplified by intraday trading surges and mixed analyst sentiment regarding potential corrections or further gains. Trading volume remains robust, with 688,197.11 ETH (about 3.04 billion USDT) exchanged on Binance in the last 24 hours, and Ethereum maintains its position as the second-largest cryptocurrency by market capitalization, currently around $514.93 billion.