Wall Street Accumulates Ethereum as ETH Holds Below $1,700

Ethereum trades below $1,700 following an early-June selloff that triggered $1.1 billion in liquidations and a brief dip toward $1,500. The token rebounded after a U.S.-Iran peace deal, yet price action remains weak while institutions accelerate accumulation. Exchange reserves have fallen 475,000 ETH and BitMine added over 126,000 ETH in a single week. Network fundamentals reached records with daily transactions at 3.6 million, non-empty wallets approaching 200 million, staking at 32.7%, and DeFi TVL hitting $316 billion. Wall Street firms continue building tokenized products on Ethereum even as ETH lags broader market expectations.