ETH Sees 3% Drop Amid Profit-Taking, Whale Accumulation, and SEC ETF Staking Review

Ethereum (ETH) is currently trading at $2,578.05, down 3.03% from its 24-hour open of $2,658.70, with a reported 24-hour trading volume of approximately $29.27 billion and a market capitalization near $327 billion, reflecting active market participation and recent highs. The price decline in the last 24 hours follows a period of strong institutional inflows and positive sentiment driven by the implementation of the Pectra network upgrade, major ETF investments from firms like BlackRock and Grayscale, and the launch of spot ETH ETFs; however, recent profit-taking by early ICO participants, increased whale accumulation, and the SEC’s extension of the public comment period for an Ethereum ETF staking proposal have contributed to short-term volatility and the observed pullback.