ETH Slides 4.57% After Large Transfer and SEC ETF Delay

Ethereum (ETH) is currently trading at $2,552.50 according to Binance, with a 24-hour trading volume of approximately $29.27 billion and a 4.57% decline from the previous day’s open of $2,674.74. The recent price drop follows a period of strong upward momentum, which saw ETH reach levels above $2,670, driven by robust institutional inflows, positive technical indicators, and increased trading activity. However, the price retracement in the last 24 hours can be attributed to a combination of factors, including a large transfer of 18,904 ETH to Coinbase Institutional, which may have signaled potential selling pressure, and the U.S. SEC’s delay in reviewing Ethereum staking ETF applications, creating temporary market uncertainty. Despite the short-term pullback, institutional demand remains strong, with significant ETF inflows and continued advocacy for expanded Ethereum ETF features by major asset managers such as BlackRock.