Ethereum Holders in Profit Tops 63% Despite Price Slip

Ethereum Holders Profitability Metrics

According to data from crypto analytics provider IntoTheBlock (ITB), a total of 63.9% of ETH holders are currently in profit. In actual numbers, this percentage translates to a total of 63.17 million addresses active on the Ethereum network.

advertisement

Assets that are in losses according to the chart shown come in at 31.31 million addresses or 31.69% of the total addresses listed. While profitability and losses are the two extremes that are in the network at this time, the ITB data also shows another class of HODLers who are “at the money” or recording no losses at the time of writing.

These addresses which are neither in profit nor loss are 4.32 million in number, accounting for 4.37% of the total active addresses in circulation.

The profitability of Ethereum is a key consideration that can intrigue new investors across the board. That more people are in profit is a very good catalyst bolstering the interest amongst the more than 445,000 Daily Active Users (DAU) on the Ethereum blockchain. While these addresses are a reflection of how robust Ethereum DeFi is, it is also an indication of how prominent Ethereum is in comparison to Bitcoin, the largest digital currency in the world.

The Security Sentiment

As part of the sentiment surrounding Ethereum, the SECurity status as it is being tagged by the United States Securities and Exchange Commission (SEC) remains a promising factor.

Unlike other top smart contract tokens around today including Cardano (ADA), Solana (SOL), The Sandbox (SAND), and Filecoin (FIL), Ethereum has not been tagged a SECurity by the SEC in recent times, a consideration that has proven to Ethereum whales that the token is stable per regulatory standing.

Ethereum is changing hands at a price of $1,860.89 at the time of writing after slipping by 0.89% over the past 24 hours. Despite Ethereum trading below its All-Time High (ATH) by 61.97%, the sheer stability that was introduced since The Merge event has helped it maintain an attractive profitability for the majority of its holders. 

Comments

Post a Comment

Popular posts from this blog

3 cryptos below $0.2 to outperform Polygon (MATIC) in 2024

Image
Welcome to the world of cryptocurrency, where trends shift rapidly and opportunities abound. In this dynamic landscape, investors are constantly seeking the next big thing. Today, we explore three cryptocurrencies priced below $0.2 that have the potential to outshine even established players like Polygon (MATIC) in 2024. From the meme-fueled momentum of Shiba Inu (SHIB) to the innovative strides of Retik Finance (RETIK) and Stellar's (XLM) promising developments, these gems offer enticing prospects for growth. Let's delve into their potential and what sets them apart. Overview of Polygon (MATIC) and Its Performance Polygon, formerly known as Matic Network, has emerged as a leading layer 2 scaling solution for Ethereum, aiming to address the network's scalability issues. With its innovative technology, Polygon provides faster and cheaper transactions, making it an attractive choice for decentralised applications (dApps) and developers. In 2023, Polygon experienced sign...
Read more

Horizen Labs, Offchain Labs, and Arbitrum Foundation Develop Apechain

Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. Apechain will utilize APE as its utility and gas tokens, fostering the expansion of the token’s reach. The platforms shared their enthusiasm for the new development while the community accepted the proposal. In a bid to expand the utility and reach of APE coin, Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. In a recent revelation, the blockchain platform, Offchain Labs, unearthed the community’s acceptance of the Apechain development proposal, indicated by a more than 50% support rate. Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack! With $APE serving as both the gas and governance token for ApeChain, Arbitrum Orbit's customizability empowers @ApeCoin DAO with true ownership and control over this… ...
Read more

First Republic: U.S. Government Coordinates "Urgent Rescue Talks" to Rescue Bank

Image
U.S. officials are reportedly leading urgent talks to rescue First Republic Bank . This comes at a time when private-sector efforts ushered by the bank’s advisers are yet to pocket a finalized deal. Citing three unnamed sources familiar with the matter, a recent Reuters report revealed,   “The Federal Deposit Insurance Corporation (FDIC), the Treasury Department, and the Federal Reserve are among government bodies that have in recent days started to orchestrate meetings with financial companies about putting together a lifeline for the troubled lender.” JUST IN: US Government coordinating urgent meetings to rescue First Republic Bank $ FRC . — Watcher.Guru (@WatcherGuru) April 28, 2023 Also Read: Crypto x Stocks: Is Un-Correlation in Play? At this stage, it is still not clear if the U.S. government is looking to take part in a private-sector rescue of First Republic. Nevertheless, one of the sources reportedly revealed that the government’s engagement has “emboldene...
Read more