Why is Ethereum moving today?

Ethereum is essentially flat, up 0.2% over 24 hours at $2,693, with the 2.5% weekly gain doing most of the work. The steadiest support comes from flows: US spot crypto ETFs pulled in more than $3 billion this week, with nearly $800 million going beyond Bitcoin into Ethereum, Solana, XRP and Zcash products. Sentiment also got help from the SEC's clarification of digital asset rules around token and staking classification, even as Commissioner Hester Peirce announced her resignation.

Working against that is a heavy macro and security backdrop. A historic Treasury selloff pushed the 10-year yield to 5.22%, triggering roughly $1.7 billion in leverage liquidations across crypto, while Bitcoin slipped 0.3% to $84,060 — ETH is tracking that broader market more than any ETH-specific catalyst.

Ether also sits at the centre of this week's exploits: Bitget raised its hack estimate to $387.5 million with ether and XRP dominating outflows, and Circle and Tether froze only about $318,000 after the attacker swapped into unfreezable ETH.