Only 8% of Ethereum addresses are “profitable”

Ethereum Developer Virgil Griffith Formally Charged
Only 8% of Ethereum addresses are “profitable”

Ethereum (ETH), the second largest cryptocurrency by market capitalization, is being traded at around $ 129 at the time of publication, up 90% from a record high of $ 1,431 reached in January 2018.

According to Coindesk, citing research by IntoTheBlock, a price reduction has led to more than 90% (or 31.31 million) of Ethiurium addresses suffering losses. An address is considered unprofitable if the current price of the ether is lower than the average market price at which the coins were sent to the address.

Thus, 31.31 million addresses received coins at a price that exceeded the current price of ether. Most of the addresses received coins at prices ranging from $ 211 to $ 530. The largest cluster (about 4.77 million) consists of addresses that received coins ranging from $ 262 to $ 352. About 3.58 million addresses – from $ 745 to $ 1340.

At the same time, it is worth noting that from the moment of launch, the ether was trading above $ 747 only for six months – from a rapid rally in October-December 2017 to falling prices in the first quarter of 2018.

At the same time, it is worth noting that from the moment of launch, the ether was trading above $ 747 only for six months – from a rapid rally in October-December 2017 to falling prices in the first quarter of 2018.

Nevertheless, although the number of profitable addresses is small, the amount of air that they store is substantial – 31.24% of the current air supply (34.05 million ETH or $ 4.5 billion at current prices).

In the first half of 2019, the price of ether increased by 120%, but in the second half decreased by 54%. Ether is not the only cryptocurrency that has faced strong pressure from sellers. Nevertheless, Bitcoin so far captures almost 100% profit for the year, while ether grew by only 1%.

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