Ethereum Hits New Profit Milestone as Stablecoin Outflows Surge
29.11.2024 10:30 1 min. read Kosta Gushterov
Recent analysis from market insights provider IntoTheBlock shows that the vast majority of Ethereum (ETH) holders are currently in profit.
Over 90% of ETH holders have seen positive returns, a trend not seen since June. The platform highlights that the remaining 9.2% of holders, who are at a loss, control a very small portion—just 2.8%—of the total ETH supply.
This suggests that any potential selling pressure from these holders is unlikely to significantly affect Ethereum’s ongoing upward trajectory.
At the time of writing, Ethereum is priced at $3,547, showing a slight dip over the last 24 hours. IntoTheBlock further notes that November has experienced the highest net outflows of stablecoins from exchanges since April.
This suggests that many traders are locking in profits and preparing to reinvest later, likely in altcoins or as a cushion for future market dips.
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