ETH Drops 4.37% Amid $230M ETF Outflows, Address Poisoning Concerns, and Record Staking Activity

Ethereum (ETHUSDT) experienced a sharp price decline of 4.37% over the past 24 hours, falling from an opening of 3,109.82 to 2,973.99 on Binance. The main factors contributing to this drop include increased bearish sentiment indicated by technical analyses, significant net outflows from Ethereum spot ETFs totaling approximately $230 million, and concerns over network activity due to "address poisoning" reports. Despite these pressures, institutional interest remains strong, highlighted by Bitmine Immersion’s $100 million purchase of ETH and a record high of over 36.2 million ETH staked with no current exit queue, reducing liquid supply.

Currently, Ethereum is trading at 2,973.99 with a 24-hour high of 3,131.34 and low of 2,920.00, supported by robust global trading volume of $32.62 billion and a market capitalization of $358.55 billion, reflecting sustained market activity despite recent volatility.