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Home > News

Published: 29/02/2024

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Author: Leexim

Surge in Profitable Ethereum Transactions
On average, ETH investors were reaping profits exceeding 20% on their holdings.

Azcnews Eth
Table of Contents
Ethereum (ETH) surged past the $3,300 mark, riding a strong bullish wave that continued to propel the world’s second-largest cryptocurrency upward. As of the latest update, ETH recorded a 2.61% increase in the 24-hour period and a remarkable 12% surge over the week, as reported by CoinMarketCap.

Profitability highest since November
The recent price surge translated into substantial profits for most traders. Santiment, a blockchain analytics firm, revealed that Ethereum’s on-chain profit/loss ratio reached a three-month high in the past week. Notably, for every loss-making transaction on the network, approximately 2.3 transactions were identified as profitable. The current percentage of total supply in profit surpassed 93%, reminiscent of the levels observed in August 2021, three months prior to ETH’s previous all-time highs.