Ethereum saw a huge, unexpected, surge on Sunday before it came back to normal and recovered. The price increased by 62% as even Bitcoin reached $100,00 mark on Binance. The surge registered by Ethereum was the highest in 2020 as it left most of the users profitable.
According to data from glassnode, Over 90% of the circulating #ETH supply is now in a state of profit, i.e. the current price is higher compared to the price at the time the coins last moved. Last time this we saw this level was in Feb 2018 when the $ETH price was at $925.
The growth registered by Ethereum was on par with its performance two tears back, when a lot of users turned out to be profitable. A few days back the price of Ethereum reached as high as $413, recording its all time high in last two years.
“Over 90% of the current supply of ETH is now considered “in the money” aka in profit,” Anthony Sassano, co-founder of Ethereum resource platform EthHub, tweeted today.
According to a few charts it has been indicated that those who brought cryptocurrency in January 2018 for $1,000 are still holding to it. Ethereum also celebrated its fifth anniversary on Friday and in many way it was a positive outcome for the second biggest coin as per coin market.
Meanwhile, their might be an upgrade in the blockchain platform, as Ethereum 2.0 is set to come up.