It seems that Ethereum has been facing selling pressure of around 540 million dollars recently, but it’s showing surprisingly resilient movement. The current rate is around $2.33k, down only 1.32% over the past 24 hours. Looking at the overall crypto market, this level of decline is quite manageable and the market is holding up well.

Ethereum holders number over 40 million addresses, and even with such large-scale selling pressure from big players, the community as a whole might be supporting it. The 24-hour trading volume remains healthy at about $219.88 million. Considering its circulating market cap exceeds $281 billion, this kind of correction seems within the market’s capacity to absorb.

When comparing its performance relative to Bitcoin, it’s interesting to see that Ethereum is outperforming the overall market. Short-term selling pressure is inevitable, but perhaps the underlying long-term demand remains strong.