Ethereum has surged over 17% to maintain trading momentum above $4,000, nearing its historical peak and prompting significant profit-taking activity. A major investor recently transferred 31,699 ETH valued at over $135 million to cryptocurrency exchange Coinbase, signaling potential sell pressure as prices approach key resistance levels.
Ethereum’s price recently peaked at $4,348.15 before settling at $4,295.28 at reporting time, reflecting a 24-hour gain of 1.94%. This places the cryptocurrency approximately 15% below its all-time high of $4,891.70. Large transfers to exchanges typically indicate profit-taking activity among institutional investors.
While institutional demand for Ethereum continues to demonstrate steady growth, market observers remain cautious regarding high leverage positions and speculative trading activity. The ecosystem faces balancing pressures between bullish momentum and profit-taking behaviors as ETH sustains its position above the $4,000 threshold.