Analyst: 97% of ETH Holding Addresses in Profit, Signaling Significant Selling Pressure Ahead
BlockBeats News, August 11th, Coindesk analyst Omkar Godbole stated that the recent surge in Ethereum (ETH) price has brought the vast majority of holders into a profitable position, which could slow down its upward momentum. According to blockchain analytics firm Sentora, currently 97% of ETH addresses are in a "profitable state," meaning the average holding cost of these addresses is below the current ETH price of $4,225 (at the time of the news release, it was $4,180).
Such a high profitability rate suggests that the market may face significant selling pressure. On-chain data from Glassnode shows that ETH profit-taking activity is accelerating—the daily on-chain realized profit, measured by a 7-day simple moving average, has risen to $553 million, which is lower than the peak of $771 million in July 2024 but is showing a clear upward trend.
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