Various statistics pertaining to different cryptocurrency ecosystems can yield surprising insights. The percentage of Ethereum addresses currently in profit has recently hit a two-year high. With over 73% of ETH holders in profit, the second half of 2020 will undoubtedly become very interesting.
Long-term Holding Still Works
In the cryptocurrency industry, it is often better to make an investment and keep it safe in a wallet for several years. This process is referred to as “holding”, and will often yield prominent results. For Ethereum users who bought Ether in the past few years, today marks a very important day.
Statistics provided by Glassnode Studios confirm more Ether address owners are in profit compared to the past two years. More specifically, 73.167% of all addresses holding ETH are currently in profit. How big that profit is exactly, depends on a lot of factors that can’t be measured in a convenient manner.
This marks a remarkable evolution for Ethereum investors. In late 2018, under 5% of all addresses containing ETH were in profit. That situation eventually reversed, as over 50% of holders have noted a profit again by mid-2019. Ever since, the figures have fluctuated significantly up until March and early April of 2020.
From that point forward, there has been a strong increase in the numbers. Going from 5% of ETH addresses in profit all the way to 73.206% in a span of four months is very impressive. Looking at those figures, it also seems that many people stocked up on Ethereum when prices went down in the past two years.
Ethereum Price Rise is crucial
Similar to other cryptocurrency markets, Ethereum’s market trend between 2017 and early 2020 hasn’t been too great. A lot of value was lost for existing holders, but not everyone gave up on this asset either. It is often difficult to not take a loss and move on to a different investment. There have been plenty of opportunities to do so.
Despite the odds, the true holders have come out as moral victors. Ethereum’s recent price surge from $110.6 all the way to $342 has been very impressive. It does make one wonder for how long this uptrend can last, however, Chasing such a strong upward push without any real retrace is very risky. With more ETH holders in profit, there may be some additional individuals looking to pick up some profits.