Most Ethereum holders are surely having a good time with their returns seen lately from investing in the crypto asset. This is because over 96% 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 (7d MA) just reached a 1-month low of 96.374%.
📉 #Ethereum $ETH Percent Addresses in Profit (7d MA) just reached a 1-month low of 96.374%
View metric:https://t.co/BUbkntqvVb pic.twitter.com/9jEDsvsMg6
— glassnode alerts (@glassnodealerts) February 28, 2021
Metric Description: The number of unique addresses whose funds have an average buy price that is lower than the current price. “Buy price” is here defined as the price at the time coins were transferred into an address.
The odds have been on the utility crypto side since its recent upgrade, Ethereum 2.0 is the much-awaited upgrade to the Ethereum (a network that promises better functionality and experience of the Ethereum network.
Unique features of the notable upgrades include a shift from Proof of Stake (PoS) to Proof of work, a new blockchain referred to as the beacon chain that provides better scalability All of this and more is expected to be phased in through a carefully planned roadmap.
Through the implementation of efficiency, enhancements, scalability and speed, the Ethereum network becomes better without compromising its decentralization and security.
Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control, or interference from a third party.
Breaking above the $1000 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 2020 following the market carnage that took place as a result of the ravaging deadly virus.