ETH Token Surges 2% as BlackRock Accumulates, $8.5B Inflows and Pectra Upgrade Boost Momentum

In the last 24 hours, ETHUSDT experienced a price increase of 2.04%, rising from 2510.41 to 2561.60 on Binance. This upward movement is primarily attributed to heightened trading activity, with a significant surge in 24-hour volume—up to 95.40% higher than the previous day—reflecting increased user interest and institutional accumulation, notably BlackRock's reported acquisition of 589,150 ETH over the past two months. Additional factors contributing to the price action include strong inflows into Ethereum, with $8.5 billion reported, and positive sentiment from ETF inflows and recent network upgrades such as the Pectra upgrade, which have bolstered confidence in Ethereum's scalability and utility. Despite mixed analyst outlooks and short-term volatility, Ethereum’s market capitalization remains robust at approximately $310 billion, with a circulating supply of 120.72 million ETH and 24-hour trading volume ranging between $10.72 billion and $16.13 billion.