ETH Surges 2.71% as $293M Whale Accumulation and ETF Optimism Drive Bullish Momentum

Ethereum (ETH) is currently trading at $2,500.63 on Binance, reflecting a 2.71% increase over the last 24 hours, with a 24h open of $2,434.71. The price uptick is primarily attributed to significant whale accumulation, with $293 million in ETH moved from exchanges to private wallets, reducing circulating supply and contributing to upward price pressure. Institutional inflows and continued optimism around spot ETF investments have further supported the bullish sentiment. Technical indicators, including a rising RSI and price action above long-term moving averages, also signal positive momentum. However, trading volume has declined by over 15% before the weekend, suggesting lower market participation despite the price resilience. ETH’s market capitalization stands near $302 billion, with a circulating supply of approximately 120.71 million ETH and recent 7-day gains of 6.59%. Overall, the market structure remains bullish, supported by strong large-holder activity and positive institutional trends.