Ethereum (ETH) Suffers Significant Drop on Critical Data

The Ethereum (ETH) market has been seeing increasing pressure on investors lately, with the percentage of ETH supply in profit falling to its lowest level since 2024.

The seven-day moving average of ETH in-cash supply — a key metric that indicates how much of the ETH in circulation is currently worth more than the last purchase price — fell to 85.66% this week, marking the lowest point for this metric since November 2023.

Just three weeks ago, this metric for ETH was 94% in profit, reflecting the rapid decline in recent weeks. This decline is also consistent with the general market sell-off that has driven ETH prices down by more than 30%, leaving many new buyers at a loss.

While ETH is around 15% higher than it was at the beginning of the year, the percentage of supply in profit is currently 3% lower. This trend suggests that the majority of ETH purchased in 2024 occurred after Q1, when the asset struggled to sustain gains above $4,000.

At the time of writing, ETH is trading at $2,575 and has lost approximately 4% of its value in the past week.

*This is not investment advice.