ETH Plunges 12.9% Amid $58.5B Volume Surge, Network Updates, and ETF Outflows Impact Market

Ethereum (ETHUSDT) experienced a significant price decrease of 12.90% over the last 24 hours, opening at 2143.69 and currently trading at 1867.13 on Binance. This decline is attributed to recent selling activity by key figures such as Vitalik Buterin, outflows from Ethereum ETFs, reduced accumulation by large holders, and a broader crypto market sell-off. Additional factors include increased transaction volume following major network updates, a drop in staking yields to around 2.84%, and macroeconomic uncertainty impacting market liquidity. Ethereum’s trading volume surged to over $58.5 billion in the last 24 hours, reflecting heightened market activity amid volatility, with its market capitalization holding near $224 billion and circulating supply at approximately 120 million ETH.