Santiment, an on-chain data source, recently tweeted that the amount of ETH transfers while participant addresses were losing money outnumbered those when wallets were profitable by nearly 3.4 times.
Over the last 3.5 years, this ratio has increased the most (since mid November 2018).
The Santiment team believes that this is a hint that Ethereum is nearing its bottom.
According to data published by Glassnode, the number of Ethereum wallets in loss has reached a 2-year high, reaching 24,513,674.851.
The number of profitable ETH wallets has plummeted to 55,470,222.548, a one-month low.
Despite the fact that Ethereum has lost slightly more than $1,000 since the beginning of the year, falling to $2,661, fresh investors continue to pour into the ecosystem. According to Glassnode, the number of non-zero wallets has reached an all-time high of 80,166,298.
Small investors are also pouring in, with the number of wallets holding 0.01 or more ETH reaching an all-time high of 22,629,104.
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