$123 Billion of Ethereum Market Cap Risky Near Current Price
On-chain data indicates that a significant portion of Ethereum's market cap has been acquired near the current price, suggesting potential vulnerability for ETH.
$123 Billion In Ethereum Market Cap Sits Close To Cost Basis
- The majority of the Ethereum market cap is currently within 0 to 20% above the spot price.
- About $123 billion, or nearly 38% of the ETH market cap, falls into this category.
- The "Market Cap by Profit and Loss" indicator shows how much of the market cap is in profit or loss based on the last transaction price.
- Tokens with a cost basis below the latest price indicate profits, while those above indicate losses.
- A pullback could result in many tokens being underwater due to this fragile profit-loss balance.
- Recent buying from whales (investors holding 10,000 to 100,000 ETH) has added approximately 1 million ETH (valued at around $2.7 billion) to their holdings.
ETH Price
Ethereum briefly dipped below $2,500 but has rebounded to approximately $2,700.
