ETH Plunges 6.33% Amid $391M Liquidations Despite Institutional Accumulation and High Trading Volume

Ethereum (ETH) experienced a significant price decline of 6.33% over the past 24 hours, falling from an opening price of $2,430.22 to $2,276.40 on Binance. This drop is primarily attributed to widespread liquidations in the crypto market, with over $391 million in long positions liquidated and notable short liquidations at the $2,430 level, reflecting heightened volatility and risk-off sentiment among traders. Despite recent large-scale institutional accumulation and substantial outflows from exchanges, which typically support price stability, these positive effects were outweighed by the broader market sell-off and options expiry-driven volatility.

Currently, Ethereum is trading at $2,276.40 with a 24-hour trading volume between $15.15 billion and $22.8 billion, a market capitalization ranging from $276.27 billion to $293.27 billion, and a circulating supply of 120.72 million ETH. The asset remains highly liquid, but recent market activity has led to increased short-term downside pressure despite ongoing institutional interest and technical signals suggesting potential for future recovery.