According to BlockBeats news, on August 11, Coindesk analyst Omkar Godbole stated that the recent surge in Ethereum (ETH) has allowed the vast majority of holding addresses to realize profits, which may slow down its upward momentum. According to data from blockchain analysis company Sentora, currently 97% of ETH addresses are in "profit status", meaning the average holding cost of these addresses is lower than the current price of ETH at $4,225 (which was $4,180 at the time of the news release). Such a high level of profitability suggests that the market may face significantly increased selling pressure. On-chain data from Glassnode shows that ETH profit-taking activity is accelerating — the daily realized profit, measured by the 7-day simple moving average, has rebounded to $553 million, although it is lower than the peak level of $771 million on July 2024, it shows a clear upward trend.
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Analyst: 97% of ETH holding addresses are in profit, indicating that selling pressure in the market will significantly increase.
According to BlockBeats news, on August 11, Coindesk analyst Omkar Godbole stated that the recent surge in Ethereum (ETH) has allowed the vast majority of holding addresses to realize profits, which may slow down its upward momentum. According to data from blockchain analysis company Sentora, currently 97% of ETH addresses are in "profit status", meaning the average holding cost of these addresses is lower than the current price of ETH at $4,225 (which was $4,180 at the time of the news release). Such a high level of profitability suggests that the market may face significantly increased selling pressure. On-chain data from Glassnode shows that ETH profit-taking activity is accelerating — the daily realized profit, measured by the 7-day simple moving average, has rebounded to $553 million, although it is lower than the peak level of $771 million on July 2024, it shows a clear upward trend.