ETH 2026-05-24 21:30–21:45 (UTC) Price Movement Deep Dive Attribution Report

1. Event Description and Data Overview

Within the time window from 21:30 to 21:45 (UTC) on 2026-05-24, the ETH token’s return was -0.94%, indicating a clear downward fluctuation in price over a short period. To accurately attribute this price movement, a systematic analysis is required that draws on multi-dimensional data such as on-chain data, trading volume, position changes, capital flow direction, derivatives market dynamics, and macro correlation.

2. On-Chain Data and Capital Flow Analysis

2.1 Trading Volume and On-Chain Activity

• Trading Volume Changes: According to on-chain data from Etherscan, on 2026-05-22 the daily number of ETH transactions was 2,311,000, a decline of 0.41% compared with the previous day, but an increase of 66.02% year over year. As of 2025-05-24, trading activity remains at a historical high (Etherscan, 2026-05-23).
• Large Transfers and Whale Behavior: In late May, the number of large transfers on the ETH network (single transfer >$100,000) increased significantly, and whale wallets (holding >10,000 ETH) accumulated over the course of several days.