ETH Surges 7.33% to $2,401 as Ceasefire Spurs Whale Accumulation and $23B Trading Volume

Ethereum (ETH) experienced a 7.33% price increase over the past 24 hours, rising from a 24h open of $2,237.60 to a current price of $2,401.52 on Binance. This price surge is primarily attributed to the announcement of a ceasefire agreement between Iran and Israel, which followed a period of heightened geopolitical tension and significant volatility. Earlier, U.S. airstrikes on Iranian nuclear facilities led to a sharp sell-off, resulting in approximately $282 million in ETH long liquidations, with Bybit and Binance accounting for about two-thirds of this total. The subsequent ceasefire news restored risk appetite, triggered whale accumulation, and drove a rapid recovery in ETH’s price. Trading volumes surged, peaking at 2.5 times the 24-hour average during the rally, while network activity remained robust with continued growth in new wallet addresses. ETH is currently consolidating near $2,401.52, with a 24-hour trading volume exceeding $23 billion and a market capitalization ranging from $273 billion to $290 billion, reflecting strong market engagement and a return of positive sentiment.