Here’s The Number of Ethereum Holders in Profit as ETH Surges to $3.8K
Author: Amir Nadeem
Monday was an eventful trading day for ETH as the asset rallied 10% in 25 minutes, surging past $3,150 to $3,450.
Ethereum’s (ETH) dramatic rally to the $3,700 price zone has put a substantial portion of the cryptocurrency’s holders in profit, boosting their investment returns significantly.
According to a tweet by IntoTheBlock, 90% of market participants holding ETH are currently in profit, while the remaining 10% are at the money. No ETH holder is at a loss, at the time of writing.
90% of ETH Holders in Profit
Monday was an eventful trading day for ETH as the asset rallied 10% in 25 minutes, surging past $3,150 to $3,450. At press time, the crypto asset had risen to $3,790, indicating a 22% increase in the past 24 hours. This significant uptick has put the majority of ETH holders in profit.
Ethereum on-chain indicators witnessed similar dynamics roughly two months ago, shortly after the Dencun upgrade. However, the crypto asset saw a significant plunge at the time. ETH fell more than 11% within a week and settled at $3,500. Regardless, around 89% of the asset’s holders were in profit.
This time, ether is rallying on news of the potential launch of spot Ethereum exchange-traded funds (ETF) in the United States, seeing its highest 24-hour move in a year.
