Ethereum

Despite a drop below $4,000, 80% of Ethereum holders are still profitable.

After struggling to keep its value above $4,000, Ethereum has once again slipped below this level. It has been declining in price since reaching an all-time high in early November. This does not imply that investors have suffered a loss as a result of the decline from its ATH. In fact, the great majority of ethereum holders have continued to profit while market sell-offs continue.

Despite a drop below $4,000, 80% of Ethereum holders are still profitable.

IntoTheBlock data gives an intriguing illustration of where ethereum holders are now located. Currently, 80% of all ETH holders are profiting. This is much greater than the proportion of bitcoin owners who are still profitable at current pricing. The latter sees 70% of all holders profiting and a bigger number of investors losing money.

In the case of ethereum, just 14% of all holders are losing money. This implies that this fraction of holders paid more for the digital asset than it is currently worth, and as a result, their holdings are negative. In the case of bitcoin, this figure equals 22% of all holders who are losing money.

For the most part, ethereum outflows prevailed as the accumulating tendency among investors expanded. Exchange receivers have plummeted to annual lows as a result of this. However, with the decline, this tendency has begun to shift.

For the previous seven days, exchange inflows have been greater than outflows. While withdrawals totaled $9.2 billion on a seven-day moving average, inflows totaled $9.31 billion over the same time period.

There is not much of a difference between these two indicators, but it does reflect how ethereum investors perceive the digital currency. As investor mood has shifted to the pessimistic side, more people are selling their coins in expectation of further lower prices. The discrepancy between inflows and outflows indicates that more investors are shifting their ETH to exchanges to sell than to hold for the long term.

Patrick

Coincu News

Victor

Recent Posts

Missed the AAVE Bullish Ride? This New Presale Can Turn Your Thousands into Millions

While Aave finds itself in uncertain territory, a fresh face in the crypto scene, Qubetics…

39 mins ago

Dogecoin Price Forecast: Analysts Push For $0.2288 DOGE While This Ethereum Altcoin Eyes 8,000% Gains In The Next 16 Days

Analysts push for a Dogecoin price surge to its $0.2288 yearly high while ETFSwap (ETFS)…

54 mins ago

Below $1 Swift Altcoin Competitor Could Overshadow XRP Price Potential Election Rally 

Discover the promising altcoin under $1 that may outperform XRP amid election volatility and market…

54 mins ago

Polkadot and SP Negócios Collaborate to Enhance Crypto Economy Development

Campinas, Brazil, 5th November 2024, Chainwire

1 hour ago

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

3 hours ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

4 hours ago

This website uses cookies.