ETH Surges 2.81% as $62.1M ETF Inflows and Mega-Whale Accumulation Drive Market Momentum

Ethereum (ETHUSDT) has experienced a 2.81% price increase over the last 24 hours, with the current price at $2,631.20 on Binance. This upward movement is primarily attributed to several factors: significant net inflows into Ethereum ETFs totaling $62.1 million, increased accumulation by large investors ("mega-whales"), and notable institutional activity, such as Bit Digital expanding its ETH holdings to over 100,000 ETH and new treasury initiatives by companies like GameSquare and SharpLink Gaming. Additionally, the transfer of dormant and government-held ETH to exchanges has contributed to heightened market attention. Despite a 13.40% decrease in trading volume to a range of $14.23 billion to $17.28 billion, Ethereum maintains strong market capitalization between $313.14 billion and $316.41 billion, with a circulating supply of approximately 120 million ETH, consolidating its position as the second-largest cryptocurrency.