ETH Surges 3.36% as Spot ETFs, Institutional Moves, and Record Volumes Drive Bullish Momentum

Ethereum (ETHUSDT) has experienced a 3.36% price increase over the past 24 hours, with the current price at 3,494.17 USDT according to Binance data. The recent upward movement is primarily attributed to strong institutional activity, including significant ETH withdrawals and acquisitions by large holders, as well as increased optimism following the introduction of spot Ether ETFs. Additional support comes from broader market sentiment, with Ethereum breaking key resistance levels and maintaining high trading volumes. The positive momentum is further reinforced by Tether's record market capitalization and ongoing legislative discussions in the U.S., which have contributed to heightened investor interest. Ethereum's 24-hour trading volume remains substantial, and the asset continues to rank second by market capitalization, reflecting sustained bullish sentiment and robust market participation.