Most Altcoins with enormous capitalization have moments of brilliance in this current bull cycle, while Solana and XRP are some of the outstanding performers. On the other hand, Ethereum “The King of Altcoins” tried to impress, achieving worse results over the past year.

The latest chain data shows that a significant percentage of ETH investors is currently underwater, partly due to the deterioration of the economic situation, which recently harassed the general market. Below is the amount of Ethereum supply in terms of loss and its potential impact on the price.

How many ETH tokens have profit?

In the post of February 8 on the X platform, an outstanding analytical company in the Santiment chain revealed that the number of Ethereum tokens in red is constantly growing in the last few weeks. Two vital indicators are “percentage of total profit supply” and “total profit supply”.

In the context of the “supply supply” indicator, it is calculated by adding all the amounts of tokens that have recently been transferred when the price of the token was lower than the current price. Meanwhile, “percentage of total supply in profit” measures the percentage of the total supply of cryptocurrency, which is currently maintained at a price higher than the original purchase price. This represents the ratio between AC’s profitIRCULATION supply.

According to Santiment, the Ethereum market capitalization has dropped by at least 36% since the local level of USD 4016 in mid -December has reached. It was expected that this lasting price drop caused a significant decrease in the amount of Eth tokens in profit from the first date extracted.

Source: Santiment/X

Data from Santiment shows that the number of Ethereum tokens in profit is currently about 97.7 million, the lowest value from November 4, 2024 (the night was won by presidential election in the United States) at the same time, at the same time, the total supply of ETH in profit is 65, 5%, the lowest value from October 2, 2024 and of 97.5% at the beginning of December.

Santiment was recorded in its position:

The crowd was notoriously negative in relation to market capitalization No. 2 because it was insufficient compared to other enormous hats. With a enormous number of FUD and retail traders, eagerly dropping their tokens, there may be some surprises when cryptographic markets are able to stabilize.

When the relatively lower percentage of the token supply is profit, long -term owners will probably dominate the market. This means that most “Fuda and Retail Traders” left their position and sold their tokens, reducing the pressure down and establishing a scene for a potential reflection.

Price ethereum

From this letter, the price of ETH is slightly above 2600 USD, which reflects the boost by more than 2% in the last 24 hours.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView