ETH Sees 4.56% Dip Amid High Volatility

Ethereum is currently trading at $2,531.50 on Binance, reflecting a 24-hour decline of 4.56% from the previous open of $2,652.50, with trading volumes remaining elevated and market capitalization near $306 billion. The recent price drop can be attributed to high short-term volatility following a period of strong gains—over 55% since early May—driven by increased institutional interest, record inflows to Ethereum ETFs, and positive developments in network activity such as rising active addresses and optimism around scaling solutions. Despite the pullback, underlying bullish sentiment persists due to robust on-chain growth, significant whale accumulation, and anticipation of further technical upgrades, though resistance at $2,700 and above remains a key challenge for further upward movement.