Ethereum Investors Clamor To Take Profits As Profitability Explodes

Ethereum has been at the forefront of the crypto market recovery in recent times. This is because the price of Ethereum had rallied following an important update regarding the upcoming Merge, and the market had recovered in kind. ETH’s price had quickly grown to one-month highs and had seen its value grow beyond $1,700. This had no doubt put a good number of ETH investors ahead when it comes to profit. ETH Profitability Grows Ethereum had seen its profitability decline following the market crash that rocked June. For the first time in a year, the percentage of Ethereum holders who had been in profit had declined to below half, causing intense sell pressure in the market. However, the recovery would come just as quickly as the crash, and the majority would be flung into profit once more. Related Reading | Bitcoin Bounces Off Consolidation Range, What Lies In Store? This is currently the case where more than half of all ETH investors are currently seeing profits. According to data from IntoTheBlock, ETH investors who are in the money come out to a total of 57% at the time of writing. It has come with increased confidence in the cryptocurrency as only 41% of all holders are currently experiencing a loss, with 2% sitting tentatively in neutral territory. Another interesting metric regarding the digital asset is the number of long-term holders it boasts. With 62% of all investors have held their coins for more than a year, it ...