ETH Price Drops 4% After $42M ETF Outflows, Grayscale Sales and Network Upgrades Shape Outlook

Ethereum (ETHUSDT) experienced a 4.01% price decrease over the past 24 hours, currently trading at $3,116.27 on Binance. This decline is primarily attributed to significant net outflows from Ethereum spot ETFs, totaling $42.3 million on December 11, with Grayscale clients accounting for $31.2 million in ETH sales. Market volatility was also driven by substantial liquidations of long positions and concerns over transaction finality delays, which contributed to negative price momentum. Despite this, ongoing accumulation by large holders and recent network upgrades, including the Fusaka and blob parameter hard forks, signal continued interest and robust fundamentals. Ethereum maintains a substantial 24-hour trading volume and market capitalization, with recent investor activity indicating possible consolidation before a future rally.