82% of Ethereum investors are in profit

Most Ethereum holders are surely having a good time with their returns seen lately from investing in Ethereum. This is because over 82% of the circulating Ethereum supply is now in a state of profit.

Data seen by Nairametrics revealed that the number of Ethereum Percent Addresses in Profit (1d MA) just reached a 2-year high of 82.247%. The previous 2-year high of 82.220% was observed on 02 September 2020.

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? #Ethereum $ETH Percent Addresses in Profit (1d MA) just reached a 2-year high of 82.247%

Previous 2-year high of 82.220% was observed on 02 September 2020

View metric:https://t.co/caVzUVoOt2 pic.twitter.com/WvGw6WhYrV

— glassnode alerts (@glassnodealerts) November 14, 2020

Methodology

Only Externally Owned Addresses (EOAs) is being counted while contracts are excluded.

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What we know

Ethereum at the time of filing this report traded at $469.39 with a  daily trading volume of $13,058,728,902 USD. Ethereum is up 1.46% in the last 24 hours Ethereum has a market capitalization of $53,236,818,706 USD. It has a circulating supply of 113,416,548 ETH coins and the max. supply is not available.

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What to look for

Breaking the $450 price support level represents a dramatic shift for the second most valuable crypto by market value, which stood at around the $112 price level at the end of Q1 following the market carnage that took place as a result of the ravaging deadly virus.

READ: Bitcoin whale transfers $105 million worth of crypto, BTC trading at $15,800

It should, therefore, be noted that Ethereum 2.0 is around the corner, as it will further boost Ethereum switching from the current proof-of-work model to proof-of-stake.

It will also optimize sharding techniques which will help hasten up transactions on the blockchain.

Explore Data on the Nairametrics Research Website