BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo
NewsBTC 2022-05-27 17:00:24

Ethereum Profitability Dumps To 2-Year Low As Price Corrects Below $2,000

Ethereum has been on a downtrend along with the rest of the crypto market. This has seen the value of the cryptocurrency plunged below $2,000 and efforts to recover above this major resistance level have been futile. Naturally, the decline in the value of the digital asset has affected its profitability. What has resulted from this is Ethereum wallets that are in profit at current prices have now declined to a two-year low. Ethereum Profitability Declines Ethereum remains the second-largest cryptocurrency by market cap but when it comes to profitability, it tells another story. Data shows that the percentage of ETH wallets that are in profit has declined significantly in the last couple of months. Along with the price, most of the profitability decline has happened in the last six months. Related Reading | Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low IntoTheBlock shows that only 56% of all Ethereum investors are currently in profit. This puts a total of 43% in the loss while only 1% of all investors are sitting in the neutral territory, meaning that they purchased their tokens at current prices. Data from Glassnode supports this metric although it puts the number of addresses in profit at a slightly higher percentage. The data aggregation tool shows that 58% of all ETH investors are still in profit. However, what is notable about this figure is that the last time that Ethereum profitabi...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.