67% of ETH holders still profitable but here’s what’s putting pressure on the price

ambcrypto.com:

Ethereum, which has managed a return on investment (ROI) of 8700%, has cultivated a lot of dampened market sentiments lately. In fact, following the market’s downfall, Ethereum has lost over 51% of its value since its ATH of $4,878.26 three months ago.

And yet, data by IntoTheBlock seems to suggest that 67% of Ethereum holders are In the Money. This essentially means that the token is profitable for these investors at recent levels.

2% of all holders are At the Money level or breaking even without any profit or loss. On the contrary, the rest of the holders are suffering losses as the current price is less than the average purchase cost for these holders.

Source:Intotheblock

And, looking at the concentration of large holders, whales that hold more than 1% of the total circulating supply stand at 42%.

Having said that, a recent release by Santiment on-chain analytics agency also pointed out that the altcoin holdings of top non-exchange whales are on a rise. In fact, the addresses are at an All-Time High (ATH) of 26.22 million ETH.