Crypto NewsEthereumEthereum (ETH) Suffers Significant Drop on Critical Data

Ethereum (ETH) Suffers Significant Drop on Critical Data

A critical data in the world's largest altcoin, Ethereum, fell to its lowest levels after a long time.

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The Ethereum (ETH) market has been seeing increasing pressure on investors lately, with the percentage of ETH supply in profit falling to its lowest level since 2024.

The seven-day moving average of ETH in-cash supply — a key metric that indicates how much of the ETH in circulation is currently worth more than the last purchase price — fell to 85.66% this week, marking the lowest point for this metric since November 2023.

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Just three weeks ago, this metric for ETH was 94% in profit, reflecting the rapid decline in recent weeks. This decline is also consistent with the general market sell-off that has driven ETH prices down by more than 30%, leaving many new buyers at a loss.

While ETH is around 15% higher than it was at the beginning of the year, the percentage of supply in profit is currently 3% lower. This trend suggests that the majority of ETH purchased in 2024 occurred after Q1, when the asset struggled to sustain gains above $4,000.

At the time of writing, ETH is trading at $2,575 and has lost approximately 4% of its value in the past week.

*This is not investment advice.



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