Ether’s (ETH) recent rally has pushed a vast majority of its addresses into profit, a development that could slow its ascent.

According to analytics firm Sentora, 97% of ether addresses are now «in-the-money.» In other words, the average acquisition costs of these addresses is lower than ether’s going market rate of $4,225.

This high profitability figure suggests that the current price rally could run into a significant increase in the sell-side pressure, a dynamic that could slow the price ascent.

According to data by Glassnode, profit-taking is already happening. ETH profit realization, measured by a seven-day simple moving average, is ramping up again, with the tally climbing to $553 million per day. The profit taking peaked a $771 million per day in July.

Further analysis reveals a shift in the source of this selling. While long-term holders, or those holding coins for over 155 days, are realizing profits at levels consistent with the peak in December 2024, it is now short-term investors who are driving the current wave of profit-taking.

Read: Ether to $4.4K? This Hidden Signal Suggests a Possible Quick Fire Rally