In the past week, the profit ratio of ETH supply reached 85.66%, a new low this year

Data shows that the proportion of ETH supply in a profitable state (7DMA) reached 85.66% in the past week, which is the lowest since November 2023. This figure reached 94% three weeks ago, but then fell significantly, which may be partly due to the overall market sell-off that occurred during this period, causing the price of ETH to fall by more than 30%. According to its analysis, this further proves the view that the current price of ETH is lower than the cost basis of most buyers this year. However, it is worth noting that although this figure is at its lowest point in 2024, it does not necessarily indicate that most ETH holders are in a net loss so far this year. (The Block)