ETH Surges 2.71% on Binance as $4.96M Shorts Liquidated and Institutional Demand Grows

ETHUSDT has experienced a 2.71% price increase over the past 24 hours, rising from a 24h open of $2,435.13 to a current price of $2,501.02 on Binance. This upward movement is largely attributed to significant short liquidations totaling $4.96 million, indicating strong buying pressure as short positions were forced to close. Additional support for the price increase comes from continued institutional interest, record-high staking activity, and ongoing inflows into Ethereum spot ETFs, all of which have contributed to market stability and positive sentiment.

Currently, Ethereum maintains a robust market position with a market capitalization of approximately $302.5 billion and a 24-hour trading volume between $9.17 billion and $10.97 billion. The asset remains the second-largest cryptocurrency by market cap, with recent trading activity reflecting substantial liquidity and moderate volatility as June concludes.