ETH Dips 2.19% Amid Rising Volatility, Retail Accumulation, and Major Layer 2 Developments

ETHUSDT has experienced a 2.19% decline in the past 24 hours, currently trading at 1968.51 on Binance after opening at 2012.64. The price drop can be attributed to a combination of sustained bearish momentum reflected in technical indicators, recent decreases in large holder (whale) supply, and increased accumulation by retail and mid-tier investors. Additional market factors include heightened volatility and expanding trading volumes, alongside notable developments in Ethereum's Layer 2 ecosystem, such as Robinhood’s Arbitrum-based chain testnet launch and Coinbase’s Agentic Wallets introduction. The 24-hour trading volume for ETH remains high, and the circulating supply stands near 120.69 million, with Ethereum maintaining its position as the second-largest cryptocurrency by market capitalization.