Ethereum Road to ATH Confirmed as 91% of Holders in Profit
Recent data shows that an overwhelming majority of Ethereum (ETH) holders are now in profit amid the ongoing major rebound in the price of the ETH token.Ethereum News Now: Analysis platform IntoTheBlock disclosed on X today that up to 90.8% of ETH investors are seeing profit on their investments. This level of profitability has not been seen in the last five months. The latest bullish metric emerged as Ethereum's price rebounded to $3,687 today.ETH last traded at this level in June. Notably, Ethereum reestablished this price range as Bitcoin rallied back to $97,500 after a brief dip to $90,500 earlier this week. While Ethereum initially lagged behind Bitcoins uptrend, it is now capitalizing on its momentum to break higher resistance levels.Despite Ethereum trading 26% below its all-time high of $4,890, only 9.2% of investors are holding the asset at a loss. Interestingly, these holders control just 2.8% of Ethereums total supply.Ethereum Faces No Significant Bearish Pressure AheadAccording to IntoTheBlock, the current statistics suggest that any selling pressure from this group will likely have a limited impact as ETH continues its uptrend.
Text source: The Crypto Basic
