ETH Surges 5.65% as BlackRock Buys $54.8M, ETF Inflows and Pectra Upgrade Fuel Rally

Ethereum (ETHUSDT) has experienced a notable price increase of 5.65% over the past 24 hours, with the current price at $2,567.77 on Binance. This upward movement is primarily attributed to significant institutional activity, including BlackRock’s acquisition of $54.8 million in Ethereum and sustained net inflows into spot Ethereum ETFs totaling about $40.7 million. Additional catalysts include heightened trading volume—up over 62% to approximately $24 billion—and renewed optimism following legislative developments that have broadly lifted the crypto market. Technical factors such as consolidation above key support levels and anticipation of the upcoming Ethereum Pectra upgrade have also contributed to the positive sentiment. Ethereum’s market capitalization stands near $311 billion, with a circulating supply of roughly 120.72 million ETH, and the asset has traded between $2,373.00 and $2,619.28 in the last 24 hours.