The Ethereum latest news suggest that the biggest altcoin out there is now again shedding a lot from its value as it recently dropped below the $130 mark. Meanwhile, reports indicate that 90% of all Ethereum wallets are now “out of the money” meaning that traders are losing money on their investments.
The second largest cryptocurrency out there which is known for powering Ethereum’s blockchain is currently trading below $130 which represents a 90% drop from the all-time high of $1,431 which was reached in early January 2018. As a leader in the altcoin news and rumors, ETH is expected to rally all the time but has not done that in a while.
The relentless price of the cryptocurrency also triggered holders of ETH in the Ethereum wallets. Research from the blockchain intelligence firm IntoTheBlock indicates that 90% of all 31.31 million ETH addresses are “out of the money” now.
So, the 31.31 million Ether addresses have acquired coins at an average price which was higher than the Ether’s current value of $129. A major chunk of these addresses purchased coins in the range of $211 to $530 and the biggest cluster (around 4.77 million addresses) is in an average cost range of $262 to $352.
Moreover, about 3.58 of the Ethereum wallets and addresses have purchased coins in the range of $745 to $1,340. Since it was launched ,eTH has so far traded above $747 only for six months from the meteoric rally of October/December 2017 until the price slide in the first quarter of 2018.
Meanwhile, around 8% or 2.79 million addresses are “in the money” and the cost of their acquisition is lower than the current price of Ethereum. Around 1.78% of the Ethereum wallets are “at the money” with an average purchase price that is almost equal to the current spot price.
Last but not least are the 8% of Ethereum wallets which are “in the money” but hold 31.24% of the total Ethereum (ETH) held in all addresses. This amounts to 34 million ETH roughly, but is nothing at a time when the cryptonews show nothing but losses and bear markets.
Right now, the hopes of traders and ETH holders is for these trends to reverse – and for 2020 to be a more profitable year for altcoins and cryptocurrency in general.
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