Only a Fraction of ETH Hodlers Currently in “Green”
November 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Fluctuations are familiar to investors in the crypto market. However, the data on ETH addresses worldwide illustrate the severity of the current crisis.
On weekends we notice massive increases in ETH-transaction fees. New data from “IntoTheBlock” shows how dramatically the situation has changed recently — on the winning road these days are only a few owners of ETH. They share their fate with some Bitcoin investors who missed the right moment to exit the last massive decline. In terms of market capitalization, ETH has lost more than 23% since the end of October. That this would also leave a lasting impression in the ETH wallets was obvious and just as predictable.
According to the portal report applies to 99.99% of all addresses in connection with Ethereum: In the positive case, they have arrived after the setbacks of recent weeks at +/- 0. In the negative case, however, the hodlers even fell into negative territory.
The real dilemma is that just over a month ago, more than a quarter of the Ethereum hodlers would have realized profits in the event of a sale. On the other hand, there were more than three-quarters of the BTC fans who were in the loss zone at the same time. According to the platform, only 4.120 ETH addresses have cleared account balance in the positive segment at the moment.
This, in turn, corresponds to the said proportion of 0.01% of all currently existing addresses. Despite the developments at Bitcoin, owners can be much happier at the moment. Because with the BTC addresses, the experts put the profit share at 55% despite the decline of the course to well below under $7,000.
As a cause, the analysts bring the ETH sales of several exchanges and other crypto companies into play. They have to sell ETH to serve financial liabilities. Many platforms have therefore apparently noticeably reduced their Ethereum holdings.
Author: Marko Vidrih
