Ethereum Soars 18% Amid Record ETF Inflows and BlackRock Dominance
Ethereum's price surged by over 18% in just 24 hours, reaching an intraday peak of $2,318.66 and settling at around $2,375.
The dramatic price action is attributed to a combination of factors, including large holder accumulation, institutional ETF demand, and a technical breakout from a prolonged consolidation phase.
August 19 marked a pivotal moment for U.S. spot Ethereum ETFs, which recorded $189.15 million in net daily inflows, the strongest single-day performance in nearly a year.
BlackRock's ETHA fund dominated the inflow activity with $122.12 million, representing approximately 58,240 ETH and bringing its total net inflows to over $11.85 billion.
Major holders extracted significant amounts of ETH from Binance in recent weeks, with one address removing 30,000 ETH valued at around $67.42 million.