ETH Surges 2.46% Amid $28.8B Trading Volume, Major Fund Moves and Post-Quantum Security Initiative

Ethereum (ETHUSDT) saw a 2.46% price increase in the past 24 hours, trading at $2,937.73 on Binance, with a 24h open of $2,867.24 and a robust trading volume of approximately $28.84 billion. The recent price uptick is likely attributed to technical recovery following prior bearish sentiment, increased market activity, and news of significant fund movements such as a long-term holder transferring 50,000 ETH to Gemini and WLFI converting WBTC into ETH. Additionally, positive developments including the Ethereum Foundation's $2 million initiative for post-quantum security and ongoing institutional interest have supported market confidence. Despite recent volatility and short-term bearish trends, Ethereum maintains its position as the second-largest cryptocurrency with a market capitalization near $354 billion.