ETH Slides 8.31% After Whale Sell-Off and $463M Acquisition Amid Record Futures Activity

Ethereum (ETHUSDT) experienced an 8.31% price decline over the past 24 hours, dropping from a 24h open of $2,767.35 to a current price of $2,537.34 on Binance. This pullback follows a period of heightened volatility and bullish momentum, which saw ETH reach a local high of $2,879 amid strong institutional activity, including SharpLink Gaming's $463 million ETH acquisition and record futures open interest at $20 billion. The recent price drop can be attributed to profit-taking by large holders after significant rallies, as evidenced by a whale selling 30,000 ETH for $82.76 million, and broader market consolidation after a strong upward move. Despite the correction, trading volume remains elevated at approximately $40.18 billion, with ETH holding above key support zones and maintaining its position as the second-largest cryptocurrency by market capitalization.