ETH Price Drops 2.2% Amid $440M Liquidations, ETF Approvals and Tether Minting Fuel Volatility

Ethereum (ETHUSDT) experienced a 2.20% price decline over the last 24 hours, with the current price at $4,207.70 on Binance. The drop is primarily attributed to technical pressure following a break below a key support level, increased market volatility, and significant liquidations in the broader crypto market, which totaled over $440 million in 24 hours. Additional factors influencing price movement include large institutional inflows, recent ETF approvals, and Tether’s minting of 1 billion USDT on the Ethereum network, which contributed to higher trading volumes but did not offset the bearish momentum. Ethereum maintains its position as the second-largest cryptocurrency, with a circulating supply of approximately 120.71 million ETH and a market capitalization of around $509.69 billion on Binance, while 24-hour trading volume reached $49.75 billion.