Ethereum has been at the forefront of the recent crypto market recovery. This is because the price of Ethereum has rallied following a major update regarding the upcoming consolidation. And the market has recovered in a similar fashion. The price of ETH rose sharply to a one-month high and saw its value rise above $1,700. There is no doubt that there are many ETH investors who are at the forefront of profits.
ETH Profitability Grows
Ethereum has seen a decline in profitability following a shocking market crash in June. For the first time in a year Percentage of Ethereum Holders Profits Drops Below Half This caused severe selling pressure in the market. with a mistake And most people will be thrown into profits once more.
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Now is the case More than half of all ETH investors are seeing profits.According to data from IntoTheBlock, 57% of all in-money ETH investors are out at the time of writing. It comes with increased confidence in cryptocurrencies. This is because only 41% of all holders are experiencing losses, with 2% in neutral territory.
Another interesting metric regarding digital assets is the number of long-term holders that have them, with 62% of all investors holding their coins for more than a year. This means that almost all of the profitable ones are long-term holders. which once once more promotes the belief that diamond hands are the most rewarding in crypto.
Ethereum Investor Profits
with the price recovery There are a lot of sales going on on Ethereum, it’s understandable. as investors want to make some profits following the June crash. This has seen the influx of exchanges increase over the past week.
ETH falls below $1,700 | Source: ETHUSD on TradingView.com
exchange information It shows that in the past week only $3.2 billion in ETH flowed into the exchange as opposed to the $2.9 billion that flowed out. This shows that there are more sellers than buyers in today’s market. This explains the downtrend that saw the price of ETH drop below $1,700.
Related reading | Bitcoin’s open interest levels put the market in a weak position.
However, it seems that the tide in front of this ETH net flow for the past day$188 million ETH flows into exchanges while $199.8 million goes out. no big margin Rather, it means that investors start accumulating when prices drop.
ETH is trading at $1,655 at the time of writing this article. It remains the second largest cryptocurrency with a market cap of over $200 billion.
Featured image from CoinQuora, chart from TradingView.com
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