Most altcoins with large cap have moments of shine in this current bull bike, with Solana and XRP as some of the prominent artists. On the other hand, Ethereum has “The King of Altcoins” struggled to impress, Underperforming over the past year.
The latest data on the chain show that a significant proportion of ETH investors are now underwater, partly because of the decline that recently plagued the general market. Below is the amount for the Ethereum range in loss and its potential impact on the price.
How many eth -tokens have a profit?
In a February 8 on the X platform, prominent analytics company Santiment revealed The fact that the amount of Ethereum symbols in red has increased steadily in recent weeks. The two relevant measurement values here are “percent of the total supply in profit” and “total supply in profit.”
For the context, the “supply in profit” metric is calculated by adding all the token amounts that were last transferred when the token’s price was less than the current price. At the same time, “The percentage of the total supply in profit” measures -metric percentage of a cryptocurrency total supply that is currently being held at a price higher than the original purchase price. The represents the relationship between the supply in profit and cNarrow supply.
According to Santiment, Ethereum has market value dropped by at least 36% Since he reached a local height of $ 4,016 in mid -December. Expected, this steady price decline has resulted in a remarkable reduction in the amount of ETH tokens in profit since their date is first broken.
Source: Santiment/X
Data from Santiment shows that the amount of Ethereum tokens in profit is currently approximately 97.7 million, the lowest value since November 4, 2024 (night Trump won the US presidential election) at the same time, the relationship between the total ETH delivery in the profit amounts to 65 , 5%, the lowest value since October 2, 2024 and down from 97.5% in early December.
Santiment noted in its post:
The audience has been notoriously negative against market # 2 because it has underperformed compared to other large caps. With a lot of fuddle and retailers who willingly dump their symbols, there may be some surprising bounce in stores when crypto markets have the opportunity to stabilize.
When a relatively smaller percentage of a token delivery is in profit, elastic long -term holders are likely to dominate the market. This means that most of the “fuddo and retailers” have left their positions and sold their symbols, Decrease downward pressure And set the stage for a potential recovery.
Ethereum Price
From this writing, the price of ETH is just over the $ 2,600 mark, which reflects an over 2% increase over the past 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Image from iStock, chart from tradingview
