According to IntoTheBlock, the profit margin for Ethereum addresses was 66% on August 12th 2024.
According to IntoTheBlock data, there are 79.5 Million Ethereum (ETHETH is currently hovering just over $2,600. The 66.04% figure represents a significant increase over the previous 63% who were still above the water line when Ethereum’s price was at its lowest point of $2,100.
Analysts at IntoTheBlock wrote:
“Last week’s market downturn significantly impacted Ethereum, pushing many holders into the red. The last time we saw a similar percentage of profitable holders was in October 2023, when Ethereum was trading around $1,800.”
This number, while higher than that of last week (which was 75%), is still below the 75% who were positive when ETH reached $3,159 in August 1.
Price will have to rise significantly for more than 37.2 millions addresses in red to turn green. Addresses in the red refer to addresses which bought ETH above market price.
If Ethereum prices rise, 3,59,000,000 addresses will profit from the purchase of Ethereum. ETH prices have remained stagnant at these levels in recent months. Jump Trading selling The surprise awakening of hidden wallets Plus Token Ponzi scam.
Whales deposits 5,000 ETH in OKX
In the past couple of days, an Ethereum whale that was part of the Ethereum ICO era is shown to have moved a significant amount coins.
Lookonchain has linked a recent transfer of 5,000 ETH from OKX to an address which received coins for $0.31. This wallet address is responsible for the transfer of more than 48.500 ETH worth $154,000,000 to OKX.
If the whale does decide to liquidate, Ethereum could see this happening. There is a good chance that traders will react to the exchange deposits made by whales if they decide to sell.
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Source: crypto.news