The Block data shows that the profitable percentage of ETH supply 7DMA was 85.66% over the past week, the lowest since November 2023.
Just three weeks ago, this figure reached 94%, but it has since declined significantly, which may be due in part to the overall market sell-off that took place during this period, causing the price of ETH to drop by more than 30%.
Analysts say this is further evidence of the view that the current price of ETH is below the cost base for most buyers this year. However, it is worth noting that while this figure is at its lowest point in 2024, it does not necessarily suggest that most ETH holders are in a net loss so far this year.
The profit percentage of ETH supply hits a new low in 2024
2024-08-20 19:32:07
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