Most Ethereum wallet owners now have a good reason to smile to the bank. This is because about 51.6 million ether wallets are now in a state of profit.
In other words, the Ethereum addresses in Profit (1d MA) just reached an all-time high of 51.6 million.
The previous all-time high of 51,639,240.250 was observed on January 7, 2021.
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Metric description: The number of unique Ethereum addresses whose funds have an average buy price that is lower than the current price.
“Buy price” is here defined as the price at the time coins were transferred into an address. Only Externally Owned Addresses (EOAs) is being counted, contracts are excluded.
READ: Over 50 million entities own Ethereum, as it trades around $600
📈 #Ethereum $ETH Addresses in Profit (1d MA) just reached an ATH of 51,639,706.542
Previous ATH of 51,639,240.250 was observed on 07 January 2021
View metric:https://t.co/Q25mnqvGFw pic.twitter.com/eZsouyGNh6
— glassnode alerts (@glassnodealerts) January 9, 2021
READ: Ethereum whales move over $50 million of Ether to Uniswap
At the time of drafting this report, Ethereum traded at $1,320.36 with a daily trading volume of $35.6 billion. Ethereum is up 7.61% for the day.
An Ethereum wallet is said to be in the money if the present price of Ether is higher than the average cost at which the Cryptos were acquired or sent to the Ethereum wallet.
READ: You can now buy Bitcoin, Ethereum, Uniswap through Apple Pay
What this means: It’s important to understand that investors can own more than one address, so the 52 million figure does not represent investor numbers.
Breaking the $1,300 resistance level represents a dramatic shift for Ethereum, which stood at around the $112 price level in March 2020 following the market carnage that occurred as a result of the ravaging COVID-19 virus.