Around 55.42% of all ETH addresses were profitable at the time of publication, the lowest in the last seven months.
The degree of profitability could also be examined by looking at the Net Unrealized Profit/Loss indicator. It is basically the difference between unrealized profit and unrealized loss and gauges whether the network as a whole is in a state of profit or loss.
Although the positive value confirmed that the network was in net profit, the level of profitability dropped many notches. As shown in the graph, the NUPL drifted lower to 0.032, from 0.13 before the price correction.Interestingly, the bearish price trajectory couldn’t dent the excitement of ETH stakers. Unfazed by the ebbs and flows of the market, the supply locked in Ethereum’s staking smart contract continued to hit new peaks.
As per the latest update, more than 28 million ETH have been staked with the network. This equated to about 23% of Ethereum’s total circulating supply.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I asked ChatGPT to forecast Ethereum Classic’s priceI asked ChatGPT about the prospects of Ethereum Classic as the nearly dormant token registers an uptick in its metrics.
Read more »
I asked ChatGPT what price Ethereum will hit by 2023-end, it had a positive responseI asked ChatGPT about the future of Ethereum by the end of 2023 as its price remains stagnant this whole week.
Read more »
Ethereum bears gaining ground, here’s howETH's recent price decline might continue as its daily MVRV ratio falls below the 180-day small moving average - an event that typically hints at a downtrend.
Read more »
Ethereum retail traders accumulate: Will their efforts drive a bullish reversal?Retail addresses have been accumulating at the current levels. New data reveals that Ethereum addresses holding at least 10 ETH just reached a 4-week high.
Read more »
Can Ethereum bulls break out of the past two weeks’ slumpThe $1700 area presented an attractive pocket of liquidity for Ethereum bears, but it was also a critical level for bulls to breach, and it was unclear which way ETH would go next.
Read more »
How Unibot could aid Ethereum in its journeyUnibot's rise offers hope for Ethereum's future, with increased gas usage and user-friendly features enhancing trading efficiency.
Read more »