Ethereum Wallet Profitability Amid Market Downturn
The recent downturn in the cryptocurrency markets has placed Ethereum (ETH) holders in a precarious position. According to data from IntoTheBlock, only 66% of Ethereum addresses are currently profitable. This substantial drop is reminiscent of the market scenario in October 2023, when Ethereum was trading around $1,800. The decline has underscored the volatility of the crypto market, leaving many holders at a loss as Ethereum's value decreased.
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