• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

ETH Network Profitability Dips Sharply

9 months ago
in Crypto Updates
Reading Time: 4 mins read
ETH Network Profitability Dips Sharply
26
VIEWS
Share on Facebook

The second-most valuable digital currency, Ethereum (ETH) has witnessed a sharp decline in profitability across its network after the crypto asset lost almost 30% of its value within the past two weeks. According to Glassnode, an on-chain analytics platform, the total number of ETH addresses in profit touched 47.5 million on Tuesday, which is the lowest level in one month.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

The total number of Ethereum addresses that are suffering from a loss crossed the mark of 38 million today, which is the highest level in more than four weeks. In terms of price, ETH has seen strong volatility in the last few weeks.

After touching an all-time high of over $4,800 in November 2021, Ethereum dipped by more than 75% in the following eight months. During the first half of August, the digital asset witnessed some recovery and has regained the price level of $2,000 for the first time since May 2022.

However, the recent price dip has accelerated the liquidation of long ETH trading positions across the network. Ethereum currently has a market cap of $193 billion.

Keep Reading

Bitcoin Network

Similar to ETH, the Bitcoin network has suffered from the recent price correction. According to Glassnode, sentiment across the BTC network is still negative.

“The 2022 bear market carries on and has clearly taken a toll on the aggregate Bitcoin investor base. Despite not seeing any widespread loss of conviction amongst the HODLers, as signaled by lifespan metrics in decline, the bulls still cannot establish a meaningful uptrend. The psychology of investor spending patterns remains firmly in the bear market territory, as rallies are sold, and exit liquidity is taken at or around cost basis levels. Given the current remarkably low active user base, it could be considered impressive that the $20k level has held up to date,” Glassnode highlighted in its latest weekly on-chain analysis report.

The second-most valuable digital currency, Ethereum (ETH) has witnessed a sharp decline in profitability across its network after the crypto asset lost almost 30% of its value within the past two weeks. According to Glassnode, an on-chain analytics platform, the total number of ETH addresses in profit touched 47.5 million on Tuesday, which is the lowest level in one month.

The total number of Ethereum addresses that are suffering from a loss crossed the mark of 38 million today, which is the highest level in more than four weeks. In terms of price, ETH has seen strong volatility in the last few weeks.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

After touching an all-time high of over $4,800 in November 2021, Ethereum dipped by more than 75% in the following eight months. During the first half of August, the digital asset witnessed some recovery and has regained the price level of $2,000 for the first time since May 2022.

However, the recent price dip has accelerated the liquidation of long ETH trading positions across the network. Ethereum currently has a market cap of $193 billion.

Keep Reading

Bitcoin Network

Similar to ETH, the Bitcoin network has suffered from the recent price correction. According to Glassnode, sentiment across the BTC network is still negative.

“The 2022 bear market carries on and has clearly taken a toll on the aggregate Bitcoin investor base. Despite not seeing any widespread loss of conviction amongst the HODLers, as signaled by lifespan metrics in decline, the bulls still cannot establish a meaningful uptrend. The psychology of investor spending patterns remains firmly in the bear market territory, as rallies are sold, and exit liquidity is taken at or around cost basis levels. Given the current remarkably low active user base, it could be considered impressive that the $20k level has held up to date,” Glassnode highlighted in its latest weekly on-chain analysis report.

Source link


 

Sign up now: Get Smarter about Cryptocurrency with our weekly Free newsletter

Do you have any question?  Reach out to us in any other social media, we will do our best to respond After you are Following Us  🙂

Instagram ——Twitter——-Facebook——Quora

Do you like the Article?  Please share   Thank you…

**this post contains affiliate links that will help me create new content without additional cost for you **

**I’m not a financial advisor **

  Here we will Share others post you might like

 

TROVE DAO what it is? How does it works?

 

Everything you need to know About the Website Moonpay

Tags: DipsETHnetworkProfitabilitySharply

Related Posts

SEC charges against Binance and Coinbase are terrible for DeFi
Crypto Updates

SEC charges against Binance and Coinbase are terrible for DeFi

10 June 2023
SEC Accuses Binance.US, CZ of Billion-Dollar Investor Fund Risk
Crypto Updates

SEC Accuses Binance.US, CZ of Billion-Dollar Investor Fund Risk

8 June 2023
Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies
Crypto Exchanges

Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies

8 June 2023
6 Meme Coins that reach 100x within a week
Altcoin

6 Meme Coins that reach 100x within a week

9 May 2023
Coinbase targeted by state security regulators concurrent to SEC lawsuit
Crypto Updates

Coinbase targeted by state security regulators concurrent to SEC lawsuit

6 June 2023
A Leap into the Future of Computing in the Metaverse
Crypto Updates

A Leap into the Future of Computing in the Metaverse

6 June 2023


  • Trending
  • Comments
  • Latest
Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies

Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies

8 June 2023
6 Meme Coins that reach 100x within a week

6 Meme Coins that reach 100x within a week

9 May 2023
Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

2 June 2023
DOGE Questioned as a Security in Musk’s Class-Action Lawsuit

DOGE Questioned as a Security in Musk’s Class-Action Lawsuit

5 June 2023
Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

2 June 2023
SEC charges against Binance and Coinbase are terrible for DeFi

SEC charges against Binance and Coinbase are terrible for DeFi

10 June 2023
SEC Accuses Binance.US, CZ of Billion-Dollar Investor Fund Risk

SEC Accuses Binance.US, CZ of Billion-Dollar Investor Fund Risk

8 June 2023
Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies

Binance Wallets Decoded: Understanding Asset Movement of Cryptocurrencies

8 June 2023
6 Meme Coins that reach 100x within a week

6 Meme Coins that reach 100x within a week

9 May 2023
Coinbase targeted by state security regulators concurrent to SEC lawsuit

Coinbase targeted by state security regulators concurrent to SEC lawsuit

6 June 2023

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}