---
title: "Why did Ethereum drop 1.2% on October 24, 2026?"
language: en
canonical: "https://whycoinmoves.com/en/coins/ethereum/2026-10-24"
date: 2026-10-24
---

# Why did Ethereum drop 1.2% on October 24, 2026?

On October 24, 2026 (UTC), ETH went from about $2,387.69 to $2,358.61 (-1.22%) on OKX · USDT, trading between $2,282.85 and $2,390.48. For the closed-hour 24h window: ETH largely moved with the market. ETH fell further than this on 6 of the past 29 days. Ethereum moved down broadly in line with Bitcoin and most other tracked coins, a move within its usual daily range. No recent report about the coin explains it, so the cause is unresolved. Perpetual swap conditions on OKX showed funding near zero with rising open interest.

- Day open / close: $2,387.69 → $2,358.61 (24 hourly candles, OKX · USDT)
- Day range: $2,282.85 – $2,390.48
- Versus Bitcoin: -1.22% / BTC -0.38%; -0.8 pts left after BTC × its hourly beta 1.22
- Versus the past month: 6 of the past 29 days fell further; Closed-hour 24h move -1.22%, 1.3× its prior 30-day median of 0.9%.
- 30-day range: 15.1% below the high · 3.3% above the low; From hourly highs and lows on the same venue
- Other tracked coins: 17 of 23 moved the same way; 2 moved the other way
- 24h volume: 0.8×; of its prior 30-day daily average
- Perpetual swap: funding near zero · open interest rising; OKX perpetual swap ETH-USDT-SWAP

Computed from OKX · USDT hourly candles for the 24 hours to 25/10/2026, 00:00 UTC.

## Still open

- What drove the market-wide move, and whether an official statement, exchange notice or on-chain data would identify a catalyst
- Whether the rise in open interest on the OKX ETH-USDT perpetual swap reflects new positioning, which exchange or on-chain positioning data would settle

Prices, market readings and reports are shown side by side; timing alone does not show what caused a move.

## Same-day movers · 2026-10-24 (UTC)

- [Irys (IRYS) -47.17%](<https://whycoinmoves.com/en/coins/irys/2026-10-24>)
- [Quantus (QTC) -13.56%](<https://whycoinmoves.com/en/coins/quantus/2026-10-24>)
- [Sui (SUI) -2.28%](<https://whycoinmoves.com/en/coins/sui/2026-10-24>)
- [Ondo (ONDO) -2.17%](<https://whycoinmoves.com/en/coins/ondo-finance/2026-10-24>)
- [Zcash (ZEC) +2.13%](<https://whycoinmoves.com/en/coins/zcash/2026-10-24>)

[Ethereum (ETH) price and news](<https://whycoinmoves.com/en/coins/ethereum>)
[Methods and limitations](<https://whycoinmoves.com/en/methodology>)