ETH supply profit percentage hits 2024 low

The Block data shows that the 7DMA of ETH supply profit percentage was 85.66% in the past week, which is the lowest point since November 2023. Just three weeks ago, this figure reached 94%, but then there was a significant decline, 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%. Analysts said this further proves the view that the current price of ETH is below the cost basis of most buyers this year. However, it is worth noting that although this figure is at a low point in 2024, it does not necessarily indicate that most ETH holders are in a net loss so far this year.