ETH Slides 4.29% Amid Geopolitical Tensions, But Staking Surges Past 35 Million ETH

Ethereum (ETHUSDT) experienced a 4.29% price decline over the past 24 hours, opening at 2408.10 and currently trading at 2304.87 on Binance. The recent price drop is primarily attributed to ongoing market caution following global geopolitical tensions, particularly the recent military operation in the Middle East, which triggered a broader cryptocurrency selloff. Additionally, slowing ETF inflows and a year-to-date decline of approximately 25% have weighed on investor sentiment. Despite these pressures, institutional accumulation remains robust, highlighted by large-scale acquisitions and increased ETH staking, which has surpassed 35 million ETH (about 29% of supply), reducing liquid availability on exchanges. Current trading volume remains strong, and ETH maintains its position as the second-largest cryptocurrency by market capitalization, with a circulating supply of 120.72 million ETH and a 24-hour trading volume between $17.6 and $22.8 billion. The market is consolidating near key support levels, with technical indicators suggesting stabilization but no immediate signs of a major rebound.