{"id":424336,"date":"2024-09-17T19:30:33","date_gmt":"2024-09-17T14:00:33","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=424336"},"modified":"2024-09-17T17:56:52","modified_gmt":"2024-09-17T12:26:52","slug":"61-ethereum-holders-still-in-profit-what-does-this-mean-for-eth","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/61-ethereum-holders-still-in-profit-what-does-this-mean-for-eth\/","title":{"rendered":"61% Ethereum holders still in profit: What does this mean for ETH?"},"content":{"rendered":"<ul>\n<li><em>61% of Ethereum holders remained in profit despite recent price declines, showing market resilience.<\/em><\/li>\n<li><em>Rising leverage and declining new addresses suggested potential market volatility ahead.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> has been experiencing a downward trend in recent weeks, dropping below several key price levels.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This decline has culminated in a more than 10% decrease in its value over the past month, with the cryptocurrency now trading at around $2,298, down 2% in the last week alone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this bearish movement, market analytics firm IntoTheBlock has provided some key <\/span><a href=\"https:\/\/x.com\/intotheblock\/status\/1835606210004861414\"><span style=\"font-weight: 400;\">insights<\/span><\/a><span style=\"font-weight: 400;\"> into Ethereum and the state of its holders that may offer a more nuanced view of the asset&#8217;s current situation.<\/span><\/p>\n<h2><strong>Ethereum holders: 61% in profit<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">According to a recent analysis by IntoTheBlock, 61% of Ethereum holders remained in profit despite the ongoing market slump. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">IntoTheBlock revealed that this figure reflected a degree of resilience among Ethereum holders, compared to previous market cycles.\u00a0<\/span><\/p>\n<figure id=\"attachment_424338\" aria-describedby=\"caption-attachment-424338\" style=\"width: 1711px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE.jpeg\"><img decoding=\"async\" class=\"wp-image-424338 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE.jpeg\" alt=\"Source: IntoTheBlock\" width=\"1711\" height=\"422\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE.jpeg 1711w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE-300x74.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE-1024x253.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE-768x189.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE-1536x379.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/GXlhnzxXQAAlovE-1200x296.jpeg 1200w\" sizes=\"(max-width: 1711px) 100vw, 1711px\" \/><\/a><figcaption id=\"caption-attachment-424338\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The analytics firm drew parallel to the previous year, noting that during the recent bear market, the percentage of profitable holders dropped to a low of 46%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the 2017 market cycle, the percentage of addresses in profit fell to a mere 3%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This indicated that the current cycle demonstrates a stronger belief in Ethereum&#8217;s long-term value.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> IntoTheBlock notes that this resilience reflects increased confidence among holders, which may suggest a more robust foundation for Ethereum even during market downturns.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to IntoTheBlock, in comparison to the 2019-2020 period, when profit-making addresses fell below 10%, the present situation suggests that any potential downturn may be less severe.<\/span><\/p>\n<h2><strong>On-chain data<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">To further understand Ethereum&#8217;s current market position, it is crucial to examine some of its key on-chain datasets. One such data is the estimated leverage ratio. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/cryptoquant.com\/asset\/eth\/chart\/market-indicator\/estimated-leverage-ratio?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\"><span style=\"font-weight: 400;\">CryptoQuant<\/span><\/a><span style=\"font-weight: 400;\">, Ethereum&#8217;s estimated leverage ratio has seen a noticeable increase in recent months, sitting at 0.355 at press time.\u00a0<\/span><\/p>\n<figure id=\"attachment_424340\" aria-describedby=\"caption-attachment-424340\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3.png\"><img decoding=\"async\" class=\"wp-image-424340 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3.png\" alt=\"Source: IntoTheBlock\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/Ethereum-Estimated-Leverage-Ratio-All-Exchanges-3-1200x675.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-424340\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The estimated leverage ratio measures the degree of leverage used in the derivatives market, comparing the amount of Open Interest to the total amount of coins held on exchanges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> An increasing leverage ratio can indicate heightened <\/span><a href=\"https:\/\/ambcrypto.com\/ethereum-options-spike-eth-to-surge-to-3k-by-december\/\"><span style=\"font-weight: 400;\">speculative activity<\/span><\/a><span style=\"font-weight: 400;\">, suggesting that traders may be taking on more risk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This trend can lead to higher price volatility in either direction, as more leveraged positions increase the likelihood of liquidations, which can exacerbate price movements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the leverage ratio, the number of new Ethereum addresses provides insight into network activity and potential market sentiment. <\/span><\/p>\n<p><a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&amp;category=Addresses&amp;m=addresses.NewNonZeroCount&amp;s=1722466800&amp;u=1726527599&amp;zoom=\"><span style=\"font-weight: 400;\">Data<\/span><\/a><span style=\"font-weight: 400;\"> from Glassnode revealed a decline in the number of new addresses. After peaking above 126,000 on the 6th of September, the figure has since dropped sharply to around 79,000 new addresses.\u00a0<\/span><\/p>\n<figure id=\"attachment_424343\" aria-describedby=\"caption-attachment-424343\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses.png\"><img decoding=\"async\" class=\"wp-image-424343 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses.png\" alt=\"Ethereum new addresses\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/glassnode-studio_eth-number-of-new-addresses-1200x675.png 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-424343\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">A decreasing number of new addresses typically signals reduced participation or interest in the network, which can be a bearish indicator.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\">Ethereum&#8217;s [ETH] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Lower growth in new addresses may imply that fewer new investors are entering the market, potentially leading to a decrease in buying pressure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This decline in network activity can contribute to the ongoing downward pressure on Ethereum&#8217;s price, especially when coupled with the rising leverage ratio.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid Ethereum ongoing price decline, holders have shown resilience with roughly 61% of them still in profit.<\/p>\n","protected":false},"author":89,"featured_media":424362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[6427,6425],"class_list":["post-424336","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>61% Ethereum holders still in profit: What does this mean for ETH? 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