ETH Surges 2.99% as Institutional Inflows, Record Staking, and ETF Activity Drive Momentum

Ethereum (ETHUSDT) experienced a 2.99% price increase over the last 24 hours, rising from 2708.10 to 2789.10 on Binance. This upward movement is primarily driven by sustained institutional inflows into US Ethereum spot ETFs, with 15 consecutive days of net inflows totaling $837.4 million, and notable ETF activity such as Fidelity's $26.3 million inflow. Additional factors include increased staking activity, with the Beacon Chain reaching a record 34.65 million ETH staked, and heightened trading volume, as evidenced by $91.82 million in ETH short liquidations and a 15% rise in spot trading volume. Technical indicators show strong market momentum, with ETH outperforming Bitcoin and maintaining bullish sentiment following the recent Pectra upgrade. Ethereum is currently trading at 2789.10 on Binance, with robust trading volume and a positive short-term trend.