Ether has seen a 30% decrease in exchange volume in the last 24 hours, enhancing its scarcity. Both in the short and long term, there seems to be a bullish sentiment for Ether.
After the supply and balance of Ether spot volume on exchanges dropped over the past few weeks, Ether is trading above the $2,433 level, with the percentage of large holders down to 41%.
For Doge and Link, the concentration of large holders is driving the price up, while in the case of Ether, retail traders appear to be more important.
At current price levels, Ether holders are profitable, but the overall on-chain market sentiment is bearish. In the past week, trading volume in the Ether ecosystem reached $19.75 billion and overall market growth was positive.
The current market news is largely positive for Ether prices. The July update of Ether is expected to increase its demand. Data based on skew shows that Ether has had positive quarterly returns for the past six quarters.
Given the current trading volumes on spot and derivatives exchanges, it is likely that Ether’s returns for the next quarter will be largely positive as well.
Ether has taken a back seat to the Bitcoin debate of a few years ago, with discussions of these issues gradually becoming more visible as Layer2 scale-out solutions and top DeFi projects become more important in network activity and exchanges.
Ether’s profitability depends heavily on its ability to withstand sales pressure when the concentration of large holders declines.
So far, the price has stayed above the $2,400 level, except for last weekend’s drop. Volatility and market trading volume are directly proportional to price, and the increase in social media mentions is driving one of the boosts to Ether holder profitability.
According to the above chart, the consolidation of Ether has started and the holdings after this consolidation and selling phase range from holding 10 Ether to 1000 Ether and the size of the allocated addresses range from 10,000 ETH to 100,000 ETH.
We can see that large holders are accumulating Ether and relatively small holders are selling off, excluding smart contract addresses, and this activity supports the claim that Ether will continue to be profitable in the next quarter.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-data-shows-that-ether-has-been-profitable-for-six-consecutive-quarters-can-it-continue-in-the-next-quarter-2/
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