🪙 ETH supply in profit hits 2024 low as recent buyers feel the pressure
The seven-day moving average of the percentage of supply in profit, which measures how much of the circulating supply of ETH is currently valued higher than the price at which it was last bought or transferred, reached 85.66% this week. This figure was at 94% just three weeks ago but has experienced a notable decline, which may have been in part due to the market-wide selloff that occurred in this period, which saw ETH's price drop by over 30%.
Source
ETH | BTC & ALTCOIN News
The seven-day moving average of the percentage of supply in profit, which measures how much of the circulating supply of ETH is currently valued higher than the price at which it was last bought or transferred, reached 85.66% this week. This figure was at 94% just three weeks ago but has experienced a notable decline, which may have been in part due to the market-wide selloff that occurred in this period, which saw ETH's price drop by over 30%.
Source
ETH | BTC & ALTCOIN News