New data from market analytics firm IntoTheBlock has revealed that a significant majority of Ethereum (ETH) holders are currently in a profitable position. According to a recent thread on social media, the crypto intelligence platform indicates that over 90% of ETH holders are in the green, marking the highest percentage since June. Interestingly, the remaining 9.2% of holders who are still at a loss only account for 2.8% of the total ETH supply. This suggests that any potential sell pressure from this group is likely to have a limited impact as Ethereum continues its upward trend.
The second-largest digital asset by market cap, Ethereum, is currently trading at $3,547, with a slight decrease in the past 24 hours. IntoTheBlock also notes that November has witnessed the highest net stablecoin outflows from exchanges since April. This trend indicates that traders are taking profits and holding onto their funds to re-enter the market at a later stage.
Tether (USDT), the world’s most popular stablecoin, has recently surpassed a market cap of $130 billion and recorded nearly 24.1 million transactions, setting a new record. This further emphasizes the growing interest and adoption of stablecoins in the cryptocurrency space.
As the crypto market continues to evolve, it is essential for investors to stay informed and up-to-date with the latest trends and developments. By subscribing to email alerts and following reputable sources on social media platforms, individuals can stay ahead of the curve and make informed decisions regarding their investments.
Overall, the data provided by IntoTheBlock offers valuable insights into the current state of the Ethereum market and the broader cryptocurrency ecosystem. With a majority of ETH holders in a profitable position, the future looks bright for Ethereum as it continues to attract interest from investors and traders alike.