Report: Nearly 70% of Ethereum holders are still losing money

According to CryptoSlate, nearly 70% of Ethereum holders are at a loss, and ETH may face huge selling pressure when it returns to its previous high. According to the encryption analysis platform IntoTheBlock, approximately 68% of the Ethereum addresses are “out of the money”, indicating that the average purchase price is higher than the current spot price of $187. This is in stark contrast to Bitcoin, where 76.7% of Bitcoin holders made a profit after the recent bullish trend. This may not be a good sign for the bulls. At present, only 27% of Ethereum's addresses are in a profitable state, which may cause Ethereum holders to periodically throw their positions when ETH prices rise, creating huge selling pressure. But the good news for the bulls is that the number of long-term holders in the past 12 months or more has been increasing over the past month, which may indicate that people are increasingly confident about the broad prospects of tokens. .