Most Ethereum holders are surely having a good time with their returns seen lately from investing in Ethereum. This is because over 82% of the circulating Ethereum supply is now in a state of profit.
Data seen by Nairametrics revealed that the number of Ethereum Percent Addresses in Profit (1d MA) just reached a 2-year high of 82.247%. The previous 2-year high of 82.220% was observed on 02 September 2020.
Previous 2-year high of 82.220% was observed on 02 September 2020
— glassnode alerts (@glassnodealerts) November 14, 2020
Only Externally Owned Addresses (EOAs) is being counted while contracts are excluded.
What we know
Ethereum at the time of filing this report traded at $469.39 with a daily trading volume of $13,058,728,902 USD. Ethereum is up 1.46% in the last 24 hours Ethereum has a market capitalization of $53,236,818,706 USD. It has a circulating supply of 113,416,548 ETH coins and the max. supply is not available.
What to look for
Breaking the $450 price support level represents a dramatic shift for the second most valuable crypto by market value, which stood at around the $112 price level at the end of Q1 following the market carnage that took place as a result of the ravaging deadly virus.
It should, therefore, be noted that Ethereum 2.0 is around the corner, as it will further boost Ethereum switching from the current proof-of-work model to proof-of-stake.
It will also optimize sharding techniques which will help hasten up transactions on the blockchain.