Crypto News

Study: More than 90% of the Ethereum addresses are now suffering losses

The ether (ETH), the second-largest cryptocurrency by market capitalization, at the time of publication was trading at a price of about $133 — 90% compared to a record high at $1431 reached in January 2018.

As reported by Coindesk, citing data from the research of the analytical company IntoTheBlock price reduction has led to the fact that more than 90% (or 31.31 million) aviarium addresses suffer losses. Address is considered to be unprofitable if current price of live below the average market price at which the coins were sent to.

Thus, 31.31 million addresses received coins at a price that exceeded the current price of the air. A large part of the addresses received coins at prices ranging from $211 to $530. The largest cluster (about 4.77 million) consists of addresses that have received coins range from $262 to $352. About 3.58 million addresses — from $745 to $1340.

It should be noted that since the launch of ether was trading above $747 only within six months from the rapid rally in October-December 2017 until prices fall in the first quarter of 2018.

8% (or 2.79 million) addresses are “in the money” (the price at the time of receiving the stream below in relation to the current price); of 1.78% of the addresses are “break-even” (the price is approximately equal to the current price).

However, although the number of profitable locations is small, the volume of air that they store substantial — 31.24% from the current bid, ether (ETH 34.05 million, or $4.5 billion at current prices).

In the first half of 2019 the price of ether has increased by 120%, but in the second half declined by 54%. The air is not the only cryptocurrency, which has faced strong pressure from the sellers. However, the bitcoin yet captures almost 100% of the profit for the year, while broadcast grew by only 1%.

Source:

coinspot.io

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