ETH Surges 2.2% Amid $757M Futures Liquidations and Major Institutional Moves on Binance

Ethereum (ETHUSDT) experienced heightened volatility over the last 24 hours, with its price currently at $2,376.59 on Binance, reflecting a 2.20% increase from the previous day’s open. The recent price movements are primarily attributed to substantial institutional transactions, including BlackRock transferring 58,327 ETH and BitMine acquiring 41,788 ETH, alongside significant market-wide futures liquidations totaling over $757 million. These factors have intensified selling pressure, leading to sharp declines and forced liquidations of long positions, while large holders, or "whales," have contributed to sell-offs.

Trading activity remains robust, as evidenced by a notable 32.80% increase in 24-hour trading volume and reports of market capitalization solidifying above $276 billion. Despite the bearish sentiment, on-chain metrics for Ethereum have strengthened, with daily transaction volume reaching 2.5 million and active addresses surging to 1 million. The ETHUSDT pair continues to be the most actively traded on Binance, supporting Ethereum’s position as the second-largest cryptocurrency by market capitalization.