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The Ethereum Foundation (EF) recently sold another 100 Ethereum (ETH) for 307,893 DAI, a stablecoin pegged to the US dollar. This marks the third time in 2025 that the EF has sold ETH, raising concerns among ETH holders about the cryptocurrency’s relatively lackluster price performance.
EF Continues To Sell Ethereum, But Analysts Offer Hope
In a post on X earlier today, on-chain analytics platform Spot On Chain identified a transaction showing that the EF had offloaded another 100 ETH. As of January 27, the EF has sold a total of 300 ETH for approximately $981,200.
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Naturally, the continued selling pressure from the EF has contributed to Ethereum’s price struggles. Over the past 24 hours, the second-largest cryptocurrency by market cap has fallen by 5.7%, trading at $3,125 at the time of writing.
That being said, the EF still holds a substantial amount of Ethereum. According to data from Arkham Intelligence, the non-profit organization owns 269,175 ETH, worth more than $800 million at current market prices.
While the EF’s decision to periodically sell ETH has raised concerns among some of the digital asset’s largest holders, seasoned crypto trader CoinMamba believes that all may not be lost for ETH just yet.
In a post on X, CoinMamba shared a chart providing ‘some hopium’ for the next two months. According to the analysis, the months of February and March have historically delivered strong returns for ETH holders.
Source: CoinMamba on X
The analyst explained that Ethereum has only posted negative returns in February once, back in 2018, when the digital asset had already surged by 50% in January of that year. In February 2024, the cryptocurrency saw a 46.3% increase in price.
Crypto trader Crypto Rover shared their analysis aligning with the prediction of ETH appreciating in value over the next couple of months. The trader emphasized that ETH is still in a ‘massive uptrend,’ and there is no reason to panic.
Source: Crypto Rover on X
Is ETH On The Cusp Of A Rally?
Despite being overshadowed for much of 2024 by the likes of SUI, Solana (SOL), and XRP, analysts are confident that ETH has yet to experience a bullish price momentum that could bring it closer to its current all-time high (ATH) of $4,878, recorded in November 2021.
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For example, recent analysis by crypto analyst Mister Crypto suggests that ETH has likely bottomed out and a price rally could be imminent for the smart contract platform token. Another analyst pointed out that ETH is completing an inverse head-and-shoulders pattern on the three-day chart, which is considered a bullish signal for the digital asset.
However, concerns remain regarding Ethereum’s underperformance relative to Bitcoin (BTC), with the ETH/BTC trading pair hitting four-year lows. At press time, ETH is trading at $3,125, down 5.7% over the past 24 hours.
ETH trades at $3,125 on the daily chart | Source: ETHUSDT on TradingView.com
Featured image from Unsplash, charts from X and Tradingview.com
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