Golden Finance reports that CryptoQuant CEO Ki Young Ju stated on platform X that the ETH/BTC NUPL has hit a four-year low. Despite Ethereum's poor performance relative to Bitcoin, ETH holders are unknowingly suffering losses, similar to the lows seen 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 unrealized profits and losses of all held assets in the market.