Ethereum Drops 4.49% After Three-Month High Amid Treasury Boost and Surging Institutional Interest

Ethereum is currently trading at $2,605.64 with a 24-hour trading volume of approximately $24.13 billion, reflecting a 4.49% decline from the previous day’s open of $2,728.03. The recent price decrease follows a period of heightened volatility and profit-taking after ETH reached a three-month high on May 29, driven by strong bullish sentiment, increased institutional activity such as large spot ETF inflows, significant whale accumulation, and technical upgrades to the Ethereum network. Despite the short-term pullback, ongoing positive developments—including a $425 million Ethereum treasury reserve announcement, major options expiries, and continued interest from large investors—have contributed to increased trading activity and remain key factors influencing market dynamics.