ETH Plunges 7.79% Amid Geopolitical Tensions, Yet Futures Volume and Open Interest Hit New Highs

Ethereum (ETHUSDT) experienced a significant price decline of 7.79% over the past 24 hours, dropping from a 24h open of $2,737.82 to a current Binance price of $2,524.41. This sharp decrease is primarily attributed to heightened geopolitical tensions and increased market volatility, as noted in recent news reports. The price drop follows a period of bullish momentum, with Ethereum previously reaching a 15-week high of $2,833 on June 11, 2025, driven by optimism around a U.S.-China trade pact and positive macroeconomic data. However, large-scale investor activity, including substantial ETH sales and repurchases, alongside notable hacker transactions, contributed to short-term volatility. Ethereum futures trading volume remains robust, recently surpassing Bitcoin's, and open interest hit an all-time high of $20 billion, indicating continued strong market participation despite the recent decline. The 24-hour trading volume stands at approximately $35.5 billion, and the market capitalization is around $336.5 billion, reflecting ongoing investor engagement amid fluctuating price action.