Ethereum May Be One Dip Away From Mass Losses—Data Warns

On-chain data shows a large portion of the Ethereum market cap was acquired near the current price, making ETH’s position potentially fragile. $123 Billion In Ethereum Market Cap Sits Close To Cost Basis As explained by the on-chain analytics firm Glassnode in a new post on X, the largest share of the Ethereum market cap is currently above the spot price by just 0 to 20%. Related Reading: How Does Bitcoin Investor Behavior Shape Trends? Glassnode Reveals The indicator of relevance here is the “Market Cap by Profit and Loss,” which tells us about how much of the ETH market cap has its cost basis sitting within what distance of the cryptocurrency’s price. Formally, the market cap is defined as the total circulating supply of the asset multiplied by the latest spot value source: https://www.newsbtc.com/news/ethereum/ethereum-one-dip-away-mass-losses-data-warns/