According to BlockBeats, on November 20, CryptoQuant CEO Ki Young Ju said on the social platform that ETH/BTC NUPL hit a four-year low. Although Ethereum has performed poorly relative to Bitcoin, ETH holders are suffering losses without realizing it, which is similar to the lows in early 2020.
NUPL (Net Unrealized Profit/Loss) is an indicator that measures market sentiment and the unrealized profits and losses of cryptocurrency holders. It reflects the overall state of the market by calculating the net value of unrealized profits and losses of all assets held in the market.
