Summary
- Glassnode said more than 58% of Ethereum (ETH) addresses are at a loss, while only 41.5% are in profit.
- The average cost basis for U.S. spot ETFs is estimated at about $3,500, more than 80% above the current $1,900 range, adding to selling pressure.
- CryptoQuant said long-term holders (LTH) set a new all-time high at 27 million ETH, and about 1.3 million ETH flowed into accumulation addresses, reflecting longer-term confidence.
Six out of 10 Ethereum (ETH) investors are reportedly sitting on losses.
Cointelegraph reported on the 11th (local time), citing data from on-chain analytics firm Glassnode, that more than 58% of Ethereum addresses are at a loss. That means six in 10 Ethereum investors are in loss territory. Cointelegraph added that “only 41.5% of Ethereum addresses are in profit.”
Selling pressure tied to exchange-traded funds (ETFs) is also said to be rising. The average purchase price for U.S. spot Ethereum ETFs is estimated at about $3,500—more than 80% above Ethereum’s current price, which is trading in the $1,900 range. James Seyffart, Bloomberg’s senior ETF analyst, noted that “Ethereum ETF investors are currently in a worse position than Bitcoin ETF investors.”
Still, some investors have moved in to “buy the dip.” According to CryptoQuant, Ethereum holdings by long-term holders (LTH) recently reached 27 million ETH, setting a new all-time high. About 1.3 million ETH has flowed into Ethereum “accumulation addresses” through recently. Cointelegraph explained that “accumulation addresses are wallets that steadily accumulate Ethereum without withdrawing,” adding that “an increase in inflows to these addresses often reflects longer-term confidence in Ethereum.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
