Crypto
Ethereum Price Pulls Back Amid Profit-Taking and Strong ETF Inflows
Ethereum's price has pulled back 3.60% in the last 24 hours, trading at $2,420.48 after a strong August rally.
The pullback comes as investors appear to be taking profits, with Ethereum's Spent Output Profit Ratio (SOPR) staying above 1 for the past week, indicating most ETH moved on-chain was sold at a profit.
US spot Ethereum ETFs recorded $234.51 million in net inflows on August 27, following $192.35 million on August 26 and $179.80 million on August 25, pushing weekly totals to $722.24 million.