ETH Surges 5.99% as Institutional Inflows Hit $225M and Trading Volume Tops $26.9B

Ethereum (ETHUSDT) has experienced a 5.99% price increase over the last 24 hours, with the current price at 2,765.61 USDT and a 24-hour open of 2,609.20 USDT, according to Binance data. This upward movement is primarily attributed to sustained institutional inflows, as evidenced by eleven consecutive weeks of positive net flows into Ether exchange-traded products, totaling $225 million in the most recent week. Additional contributing factors include heightened market activity driven by the #BinanceTurns8 campaign, significant whale transactions involving large ETH and stETH holdings, and historically low ETH transaction fees, which have improved network usability and sentiment. Technical indicators show ETH breaking out from a descending channel and forming a symmetrical triangle, suggesting potential for further volatility as traders await a decisive move. Over the past 24 hours, ETH has traded between 2,589.78 and 2,795.74 USDT, with approximately $26.9 billion in trading volume and a market capitalization near $334 billion, reflecting strong market participation and renewed interest in the asset.