ETH Sees 5% Drop Amid Market Volatility as Institutions Acquire $138M in New Holdings

Ethereum (ETH) is currently trading at $2,561.68 on Binance, down 5.02% over the past 24 hours with strong trading volume and a market capitalization near $307 billion, maintaining its position as the second-largest cryptocurrency. The recent price decline is primarily attributed to broader market volatility following new tariff threats from President Trump, which triggered a 3% drop on May 23, and ongoing macroeconomic uncertainty. Despite this short-term pullback, institutional accumulation remains robust, as evidenced by significant ETH purchases from BlackRock, Fidelity, and Grayscale totaling over $138 million this week, alongside increased ETF activity and high trading liquidity, suggesting continued institutional interest and potential for future upward momentum.