Ethereum’s Explosion To $3,800 Puts 90% Investors In Profit: Data
Summary
90% of Ethereum investors are now in profit due to the recent surge in price. On-chain data from IntoTheBlock shows that 90% of addresses on the Ethereum network are holding coins at a net unrealized gain, with 0% in losses and 10% at break-even. Historically, high profitability levels have led to potential selloffs, but during bull markets, the asset has sustained high profits for a while. However, a mass profit-taking event may impede the current rally, and the impact of spot ETFs on any potential selloffs remains to be seen. Ethereum's price has surged over 22% in the past 24 hours, reaching over $3,800.
