About 53% of Ethereum (ETH) addresses are currently operating at a loss, because the wider market volatility continues to wreak havoc on the price of ETH.
The second largest cryptocurrency by market capitalization is struggling with a difficult period aggravated by macroeconomic challenges.
The majority of Ethereum addresses struck by losses
In a recent article on X (formerly Twitter), Cryptorank shared that less than half of Ethereum addresses are profitable.
“47% of ETH addresses are in profit at the current market price of $ 1,900.” The message read.
On the other hand, Bitcoin (BTC) saw 86% of its profit holders, demonstrating its relative stability compared to Ethereum. Meanwhile, Bitget Token (BGB) leads the pack with an impressive 95% of its holders currently in profit.
Nevertheless, Ethereum holders were plunged into losses due to its drop in prices. In the past year, the price of ETH fell 52.8%, its value has been lowered regularly since December 2024.
In addition, in the midst of increasing recession fears, Altcoin fell to stockings that have not been seen since the end of 2023. The decline led to a wave of sales, the merchants rushing to minimize the losses. As Beincrypto previously reported it, Ethereum whales have unloaded significant ethics assets to avoid liquidations.
ETH’s difficulties are also highlighted by its underperformance during last week. While the wider market of cryptocurrencies experienced a drop of 11.0%, Ethereum faced larger challenges, experiencing a decrease of 13.5%.
In addition to the price, the funds negotiated in exchange for Ethereum (ETF) also paint a similar table. Soso value data show that ETFs have experienced continuous withdrawals in the past two weeks. In addition, on March 11, the total net release was $ 21.5 million.
Despite this, the co-founder of Ethereum, Joseph Lubin, remains optimistic about the future of the crypto.
“Perhaps never been more optimistic after the recent shaken and essential resets,” he posted.
While recognizing recent losses, Lubin believes that US government’s actions will help the country to focus more and agile. He considers this as a chance for decentralized protocols like Ethereum to function more freely and more freely. Lubin predicts that 2025 will be a pivotal year for cryptographic space.
Today, positive political developments have notably contributed to a modest recovery on the cryptography market. The ETH also benefited from an increase of 0.12% in the last 24 hours, which brought it to $ 1,899.
Aside from the price movement, the Ethereum offer on the scholarships also indicates a drop in sales pressure. Ethereum’s exchange reserves have fallen to their lowest level for years, indicating that fewer holders are ready to sell their assets.
This could lead to a drop in price on the price and potentially prepare the ground for future growth.
“This is generally a leading optimistic indicator. Short incoming pressure! An analyst wrote on X.
While Ethereum faces significant challenges, recent trends suggest a recovery potential. Whether it materializes in a lasting trend or will remain in the short term remains to be seen.
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