The post How It Compares With Past Bear Markets appeared on BitcoinEthereumNews.com.

Data shows just 61% of Ethereum holders have been left in profit after the recent bearish action. Here’s how it compares with past bear markets. Ethereum Holders In Profit Have Registered A Notable Drop Recently In a new post on X, the market intelligence platform IntoTheBlock has discussed how the Ethereum investor profitability has been looking recently. The indicator of relevance here is the “Historical In/Out of the Money,” which breaks down the percentage of ETH holders who are in a state of profit, loss, and break-even. This metric works by going through the transaction history of each address on the blockchain to find the average price at it acquired its coins. If this cost basis for any wallet was less than the current spot price of the asset, then that particular investor may be considered to be in a state of profit right now. IntoTheBlock labels such addresses to be “in the money.” Similarly, the holders of the opposite type, that is, those who are underwater, are put under “out of the money.” Addresses that have their acquisition level exactly equal to the current spot price of the cryptocurrency are assumed to be just breaking-even and are termed to be “at the money.” Now, here is a chart that shows the trend in the Ethereum Historical In/Out of the Money over the past several years: Looks like the holders in profit have been declining in recent days | Source: IntoTheBlock on X As displayed in the above graph, the total percentage of the Ethereum addresses in the money had risen beyond the 90% mark during the price rally earlier in the year. With the bearish price action in recent months, however, the metric has been observed to be on the way down. Following the latest continuation of the downtrend,…

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Filed under: News - @ September 18, 2024 12:23 am