According to data from Glasnud, a company specialized in blockchain, more than 90% of the Ethereum coins now traded are in profit.
This means that more than 90% of about 112 million Ethereum coins were purchased at a price lower than the current market price of Ethereum, Glasnod reported in a tweet on Tuesday 4 August. 2020.
According to Glasnod, Ethereum last saw this level of profit in February 2018 when it was traded at around $ 925.
Ethereum is the second largest digital currency by market value after Bitcoin (BTC).
According to data from Coin 360, the market value of Ethereum is now around $ 44 billion, while the market value of Bitcoin is $ 207 billion.
After the main bullish trend in the crypto markets, Ethereum and Bitcoin have recorded new highs for the year 2020 since late July.
After the steady growth in 2020, the highest alternative currency (Ethereum) has risen by more than 200% since January 1, 2020.
Ethereum's new record prices come before the launch of Ethereum 2.0, a major upgrade to the network that is preparing to switch from a proof-of-work algorithm to a proof of the stake.
Reportedly, the move to share-proof is a major factor attributed to the strong Ethereum rise wave along with the explosive growth of decentralized financing applications.
(Fun Knowledge of Knowledge)
