Ethereum Surges Past $2,500 as Whale Selling Adds Pressure

Ethereum's price has broken above the key $2,500 resistance level after a 4.1% gain in 24 hours, climbing to $2,508.45.

This marks a significant milestone for Ethereum holders, as the MVRV ratio has risen above 1.00 for the first time in 200 days, indicating that holders are now in profit on average.

However, despite this positive sign, a large Ethereum whale has sold 167,855 ETH worth around $408 million over five days, increasing selling pressure and potentially limiting further gains.