93% Ethereum Addresses Are Profitable
The cost of the second most important cryptocurrency increased by 12.5%, breaking the bar of $800. Ethereum (ETH) catches up with Bitcoin (BTC) in daily and weekly transaction volume
This success is due to the positive dynamics on the ETH/BTC chart. On the weekly chart, the screenshot of which is posted below, the ETH/BTC pair was in a continuous decline, but everything changed on January 3. The upward movement began. This means that ETH has started to build up its strength, building on the success of Bitcoin.
Several Ethereum network indicators also show that the second largest cryptocurrency is getting stronger. Based on this, the guys at Glassnode Alerts have made their new report.
According to them, the percentage of profitable ETH addresses on the crypto market recently hit a two-year high. This figure was 93%. This means that an Ethereum liquidity crisis may soon arise.
Also on Twitter, Glassnode indicated that the total commission paid in ETH (1-day moving average) just hit a 3-month high of $300,632.94. The previous 3-month high of $300,095.46 was observed on 12/17/2020.
Ethereum 2021 Predictions
Despite the small bounce in value, it's safe to say that 2021 could be a very bullish year for ETH. The cryptocurrency has climbed almost 450% in 2020 and even overtook Bitcoin.
Institutional participation in Ethereum is increasing. Investors are thrilled that CME ETH futures will launch in February 2020. Cameron Winklevoss, co-founder of Gemini Exchange, tweeted recently that ETH is the best asset of 2020!