Ethereum Profit-Taking Surges Amid Price Decline

Ethereum's network experienced a significant surge in realized profits on Thursday, with $74.58 million booked in a single transaction. This marks the highest level of profit-taking in three weeks, despite the asset's price declining by 5.5% over the past three days.

The data from Santiment indicates that traders who accumulated Ethereum during February and March, when the price was below $2,000, are now selling their holdings to realize profits. This is evident from the spike in deposit addresses on Binance, which reached around 9,000 ETH, the highest level in over a year.

According to CryptoQuant contributor Rei Researcher, the inflow bars confirm that selling pressure is concentrated around the $2,260 price zone. The Santiment data also shows that four-hour candles have been compressing near $2,241, indicating elevated distribution activity.