Ethereum Stalls at $1,500 Support as Quarter-End Selling Intensifies

Ethereum has struggled to hold onto its $1,500 support zone as quarter-end selling and weak institutional flows weigh on the cryptocurrency.

According to data from crypto.news, Ethereum traded around $1,580 at the time of writing, down roughly 5.3% over the past seven days and about 25% for the quarter.

The decline completed Ethereum's first-ever streak of three consecutive quarterly losses, and selling pressure intensified after the Ethereum Foundation announced a restructuring that included a 20% workforce reduction and a 40% budget cut.

Coporate buyers have continued to accumulate into the weakness, with SharpLink disclosing another purchase of 10,000 $ETH at an average price of $1,611 and Bitmine adding 27,084 $ETH during the past week.