ETH Surges 5% as Record Staking, Institutional Demand, and Derivatives Fuel Market Rally

Ethereum (ETH) experienced a notable price increase of 5.06% over the past 24 hours, with the current price at $2,768.88 on Binance, up from a 24h open of $2,635.51. This upward movement is primarily attributed to strong bullish momentum driven by record-high staking balances, significant trading volume, and increased institutional interest, as well as Ethereum outperforming traditional assets like gold. The rally was further supported by heightened derivatives activity and a surge in open interest, indicating expectations of continued volatility. In the same period, ETH saw $56.02 million in liquidations, reflecting active trading and rapid price changes. Overall, Ethereum’s market capitalization and trading volumes have risen sharply, with the asset leading a broader altcoin rally and maintaining high market engagement.