ETH Price Falls 3.11% as Major Institutions Reposition $500M, Trading Volume Surges to $22B

Ethereum (ETHUSDT) experienced a 3.11% price decline over the past 24 hours, currently trading at $2,959.88 on Binance. The downward movement is primarily attributed to bearish market sentiment, as reflected by negative funding rates across major platforms and cautious analyst outlooks. Large institutional activities, including Binance's recent staking of over $500 million in ETH and BlackRock's transfer of 29,928 ETH to Coinbase Prime, suggest active repositioning among major holders, which may be contributing to short-term price volatility. Robust trading volumes exceeding $22 billion indicate significant market participation despite the price drop. The current market cap for Ethereum is approximately $356.93 billion, with the circulating supply at around 120.69 million ETH, and prices fluctuating within the $2,944–$3,077 range in the last 24 hours.