Profitable Ethereum Addresses Hit the Lowest Level in 22 Months
So far in 2022, Ethereum has remained the worst-performing cryptocurrency among the top 5. Amid massive retail and institutional selling pressure, the digital asset plunged below $1,800 on 27 May 2022.Moreover, Institutional inflows in Ethereum investment products have dipped significantly since ETH’s all-time high in November last year.
Compared to an all-time high of almost $4,900 in November 2021, Ethereum is currently down by almost 60%. As a result, a large percentage of ETH addresses are suffering from huge losses. According to the on-chain analytics platform, Glassnode, 58.08% of Ethereum addresses are now in profit, which is the lowest level since July 2020.Outflows from ETH products since 1 January 2022 stand at around $239 million, compared to the inflows of $307 million in BTC products.
Source
@Bitcoin_Ethereum_Altcoins
