ETH Surges 3.92% to $3,134 as Institutional Inflows Top $5B and Whale Activity Grows

Ethereum (ETH) traded against USDT has experienced a 3.92% price increase over the last 24 hours, with the current price at $3,134.49 on Binance and a 24-hour open of $3,016.32. This upward movement is primarily attributed to continued optimism around spot Ethereum ETF inflows, which have surpassed $5 billion, and significant accumulation by institutional investors such as SharpLink Gaming, which recently acquired nearly 38,000 ETH. Additional support for the price comes from increased whale activity and the breaking of key technical resistance levels, as well as positive sentiment following recent announcements of new institutional trading offerings and large-scale ETH holdings by major funds.

Market activity has been robust, with substantial trading volumes and a circulating supply of approximately 120.71 million ETH, while the market capitalization remains strong at around $368 billion. The recent volatility has been met with a recovery trend, as ETH maintains its position above $3,100, supported by both institutional demand and favorable technical indicators.