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.

Ethereum’s (ETH) price has exhibited strong bullish momentum this week, currently displaying four back-to-back daily green candles for the first time since early July. The rally for crypto assets began after the United States announced a 50 basis point rate cut,

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.

Ethereum, or 1 ETH, traded at $2,307.70 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.

The Ethereum Foundation recently sold Ether, adding to the supply of the altcoin on exchanges. Ethereum supply on exchanges climbed 2.5% in September, per on-chain data from Santiment. Lookonchain, a crypto intelligence tracker identified that the Ethereum Foundation sold 300 Ether worth $763,