ETH Surges 2.16% as Institutional Demand and Whale Activity Drive $30B Trading Volume

Ethereum (ETH) is currently trading at $2,480.99 on Binance, reflecting a 2.16% increase over the past 24 hours from an open of $2,428.60. The recent price recovery follows a period of heightened volatility, including an 8% flash crash on June 21 that was quickly reversed by strong buyer activity, and ongoing consolidation near the $2,500 level amid subdued market volatility. Key factors influencing the latest price movement include increased institutional interest, such as Aurora Mobile's decision to allocate up to 20% of its cash to cryptocurrencies including Ethereum, as well as significant whale accumulation and notable on-chain activity related to the Cork Protocol exploit. Over the past 24 hours, trading volumes have remained elevated, with reports ranging from $17.14 billion to over $30 billion, indicating sustained market engagement despite a recent pullback from mid-June highs. Ethereum’s market capitalization is reported between $292 and $298 billion, with a circulating supply of approximately 120.71 million ETH.