Most of the large altcoins that have moments of brilliance in this current bull cycle, with Solana and XRP of some prominent artists. On the other hand, Etherum “KingCoins” struggled to persuade him, which is poorly performed during the past year.
The latest data on the series shows that a large percentage of ETH investors is now underwater, partly due to the decline in which the public market has been afflicted recently. Below is the amount of ethereum supplies in the loss and its potential effect on the price.
How many ETH codes are in profit?
In the February 8 publication on the X platform, the Santiment series open The amount of symbols in the red has increased steadily over the past few weeks. The two relevant measurements here are “the percentage of the total offer in profit” and “total offer in profit”.
For the context, the “offer in profit” scale is calculated by adding all the symbolic amounts that were last time when the code price was less than the current price. Meanwhile, the “percentage of the total offer in profit” measures the percentage of the total encrypted currency supply that is currently kept at a price higher than the original purchase price. He – she It represents the percentage between the offer in profit and cIrculation offer.
According to Santiment, the market value of ETHEREUM fell at least 36 % since it reached the highest local level of $ 4.016 in mid -December. It is expected that the fixed price decrease has led to a noticeable decrease in the amount of symbols in profit since it was extracted for the first time.
Source: Santiment/X
Data from Santiment shows that the amount of symbols in Ethereum profit is currently about 97.7 million, which is the lowest value since November 4, 202 4 Value since October 2, 2024, a decrease from 97.5 % in early December.
I noticed Santem in his post:
The crowd was negative as a reputation towards the maximum market number 2 as it has given performance compared to other big hats. With a large amount of FUD traders and retail trading, they throw their own symbols, there may be some sudden bounce in the store once the encryption markets are able to settle.
When a percentage is relatively lower than the supply of the symbol in the profit, it is likely that those with flexibility in the long run are likely to dominate the market. This means that most of the “FUD and retail traders” have left their positions and sold their distinctive symbols, which reduces descending pressure and put the way for potential apostasy.
Ethereum price
As of the writing of these lines, the ETH price is slightly higher than the brand of $ 2600, which reflects an increase of more than 2 % in the past 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
