<ul data-eligibleForWebStory="true">Ethereum price dropped 17% during the Iran-Israel conflict but has shown on-chain usage surge despite the price decline.Whales and institutions accumulated significant amounts of ETH during the dip, with net inflows exceeding $1.4 billion.Institutions bought 47,070 ETH worth $113 million with an average price of $2,400 during the recent market dip, showing confidence in ETH.Market participants are racing to buy ETH at discounted prices, with ETH whales purchasing over $265 million worth of Ethereum during the weekend dip.Smart money has aggressively bought ETH, with over $40 million of ETH ETF inflows seen last week, indicating positive sentiment towards Ethereum.