Ethereum’s recent surge in value has sent 97% of ETH holders into profit, marking a significant milestone for the cryptocurrency. Despite this impressive statistic, on-chain metrics suggest that the market may not be overheated just yet.
Short-term traders are capitalizing on Ethereum’s rally, with many cashing out faster than at any point in the past year. However, this rapid turnover has not led to market exhaustion, indicating that there may still be room for further growth.
According to data from Sentora, nearly every Ethereum address is currently in profit, highlighting the widespread gains among holders. Glassnode’s MVRV Extreme Values indicator remains below the red zone typically associated with market tops, suggesting that the current rally may still have room to run.
The MVRV indicator, hovering near the 2.0-level, has not yet reached the peaks seen during previous euphoric phases in 2017, 2021, and late 2023. This indicates that the market may be in an early to mid-stage profit realization cycle, rather than approaching a final blow-off top.
Crypto analyst Ali Martinez believes that the setup points to more upside potential for Ethereum, especially if profit-taking by short-term holders is met with sustained demand from buyers.
The recent surge in profits for Ethereum has been driven primarily by short-term investors, with Glassnode data showing a significant increase in realized profits compared to previous months. While long-term holders have also seen their profits rise, the acceleration has primarily come from addresses holding ETH for less than six months.
Despite the increase in short-term profit-taking, the market has not reached a point of saturation that typically precedes major corrections. The ongoing rotation from long-term stability to short-term cash-outs suggests that the rally is fueled by active turnover rather than exhaustion, leaving room for further price expansion if demand remains strong.
Overall, Ethereum’s rally has been a boon for holders, with the majority now in profit. With on-chain metrics indicating that the market may still have room to grow, the future looks bright for the second-largest cryptocurrency by market cap. The Benefits of Gardening for Mental Health
Gardening has long been known for its physical health benefits, but recent research has shown that it also has a significant positive impact on mental health. Spending time in a garden, whether it be tending to plants or simply enjoying the beauty of nature, can have a therapeutic effect on the mind and emotions.
One of the main ways that gardening benefits mental health is through stress reduction. The act of gardening requires focus and concentration, which can help to take your mind off of any worries or anxieties you may be experiencing. The repetitive tasks involved in gardening, such as weeding, planting, and watering, can also have a calming effect on the mind, similar to meditation.
In addition, spending time in nature has been shown to reduce levels of cortisol, the stress hormone, in the body. This can help to lower blood pressure and improve overall mood. Being outdoors and exposed to natural light can also increase levels of serotonin, the “feel-good” neurotransmitter, which can help to combat feelings of depression and anxiety.
Gardening can also provide a sense of accomplishment and purpose, which can be especially beneficial for those struggling with mental health issues. Watching plants grow and thrive as a result of your care can give you a sense of pride and satisfaction. This can help to boost self-esteem and confidence, as well as provide a distraction from negative thoughts.
Furthermore, gardening can be a social activity, whether it be joining a community garden or sharing tips and advice with fellow gardeners. Social interaction has been shown to have a positive impact on mental health, reducing feelings of loneliness and isolation.
Overall, gardening can be a powerful tool for improving mental health and well-being. Whether you have a green thumb or are new to gardening, spending time outdoors and connecting with nature can have a profound impact on your mental health. So next time you’re feeling stressed or overwhelmed, consider spending some time in the garden – your mind will thank you.