61% ETH Holders in Profit

- Blockchain intelligence platform IntoTheBlock has announced a new metric showing that 61% of ETH holders are in profit.

- This record comes at a time when ETH and other altcoins are experiencing significant price declines. ETH is down more than 4% in the last 24 hours, down to around $2,300.

- Historically, periods when ETH holders are in profit have a positive impact on market performance. 📈

September Drop

- This month was ETH’s worst performance since February.

- Bitwise CEO Matt Hougan explained three main reasons for the September drop. He noted that risk assets usually perform poorly this month.

- Hougan believes that the market will recover in October (Uptober) and the prices of assets like ETH will rise. 🚀