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
London, united kingdom, 22nd November 2024, Chainwire
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