Ethereum, or 1 ETH, traded at $2,644.63 as of 8 a.m. ET. The highest intraday price the cryptocurrency reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

Over the last three days, the Ethereum Foundation has shaken up the market by selling off 500 ETH. The organization has reportedly offloaded $10 million worth of Ethereum this year in separate events.

According to reports that have surfaced, around 61% of the Ether holders are still in profit. This is better in comparison to the bearish cycle of 2017. During the bear run, the number of profitable holders had dropped to 46%, compared to 3% in the 2017 cycle.

Ethereum faces challenges as significant exchange inflows signal potential selling pressure. Could this lead to a price drop?

The price of ethereum, or 1 ETH, was $2,299.44 as of 8 a.m. ET. The crypto’s highest intraday price in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks. On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

Monday, with strong performances from Bitcoin, Ethereum, BNB, Solana, and Avalanche. As of 12:27 PM IST, Bitcoin was up 1.3% at $63,703, and Ethereum had risen 3% to $2,656.