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80% of Ethereum Wallets Remain Profitable Despite ETH Falling below $4,000 -Breaking

by Mike Robinson

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80% of Ethereum Wallets Still Profitable Despite ETH falling below $4,000

It is nearing the end of its worst month in May, as cryptocurrency markets are teetering. ETH lost 20% since December’s beginning, when it traded as high as $4780.

Ethereum lost over 8% in the past 48 hours. This has caused the price for Ethereum to plummet to $3,756.

Chart showing the price of Ethereum (ETH), 48 hours in advance Source: Tradingview

Regardless of Ethereum’s poor performance in December, 80% of all ETH wallets are currently operating on a profit, significantly higher than its major competitor, , of which 70% are.

According to IntoTheBlock 14% of holders operate at a loss while 6% are either profiting or losing.

ETH’s strong performance in 2021 is a major reason for why most ETH holders are still experiencing at a profit. Ethereum’s value has increased by over 400% since the beginning of 2021.

Year-to-date Ethereum price chart (ETH) Source: Tradingview

Despite Ethereum’s overall performance in 2021, a worrying trend for investors is brewing on the horizon. The latest decline in ETH exchange trading volume has led to a greater than expected increase in its outflows. Experts speculate on a bearish trend as outflows hit a 4-year low.

The Flipside

  • While most ETH owners are making a profit, Ethereum whales began to sell at the ATH. The number of wallets holding at least 1,000 ETH dropped to 6,292 – its lowest number since April 2017.

Care is a must

Ethereum continues to grow as it transitions to Proof of Stake. In 2021, ETH outperformed Bitcoin.

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