Most high capitalization altcoins have moments of shine in this current bull cycle, Solana and XRP being some of the most remarkable artists. On the other hand, Ethereum “The King of Altcoins” had trouble impressive, underperforming in the past year.
The latest chain data show that an important percentage of ETH investors is now underwater, partly due to the slowdown that has recently tormented the general market. You will find below the amount of the Ethereum offer, loss and its potential impact on the price.
How many ETH tokens are in profit?
In an article of February 8 on the X platform, an eminent analysis company on Santiment chain revealed that the quantity of Ethereum tokens in the red has regularly increased in recent weeks. The two relevant measures here are the “percentage of the total offer for profit” and “the total offer for profit”.
For the context, the “supply in profit” metric is calculated by adding all the token amounts that were transferred for the last time when the price of the token was lower than the current price. Meanwhile, the “percentage of the total profit offer” measures the percentage of the total offer of a cryptocurrency currently at a price higher than the original purchase price. He represents the ratio between the offer in profit and CIrcucation supply.
According to Santiment, the market capitalization of Ethereum has dropped at least 36% since it reached a local summit of $ 4,016 in mid-December. Expected, this constant drop in prices has led to a significant drop in the amount of ETH tokens in profits since its exploration date.
Source: Santiment/X
Santiment data show that the amount of Ethereum tokens for profit is currently around 97.7 million, the lowest value since November 4, 2024 (Trump night won the American presidential election) at the same time, The Total ETH supply ratio in the profit amounts to 65.5%, the lowest value since October 2, 2024 and down 97.5% in early December.
Santly noted in his article:
The crowd was notoriously negative towards market capitalization n ° 2 because it has underperformed compared to the other large caps. With many Fud and retail merchants to deliberately discharge their tokens, there can be surprise rebounds in store once the cryptographic markets are able to stabilize.
When a relatively lower percentage of the offer of a token is in profit, long -term resilient holders are likely to dominate the market. This means that most of the “Fud and detail traders” have left their positions and sold their tokens, reducing the pressure downwards and preparing the ground for a potential rebound.
Ethereum Prize
To date, the price of the ETH is located just above the $ 2,600 mark, reflecting an increase of more than 2% in the last 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
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