Ether Profitability Nears Peak Levels as 97% of Addresses Turn Green
Ethereum’s (ETH) latest rally has propelled the vast majority of its holders into profit—a sign of market strength, but also a potential trigger for increased selling pressure.
Blockchain analytics firm Sentora reports that 97% of ETH addresses are currently “in-the-money,” meaning the average cost basis of these holders is below the current market price of $4,225. While this level of profitability underscores bullish momentum, it also raises the likelihood of profit-taking, which could temporarily slow further upside.
That dynamic appears to be playing out already. According to Glassnode, realized profits—tracked via a seven-day moving average—have climbed to $553 million per day, with July marking the peak at $771 million daily. Historically, such surges in realized profits often precede periods of price consolidation or pullbacks.
Notably, the character of the selling has shifted. While long-term holders led profit-taking during the December 2024 peak, recent data shows that short-term investors are now the primary contributors to realized gains. This suggests a faster-paced, more reactive market environment.
Though Ethereum’s fundamentals remain strong, and institutional flows have broadly supported the rally, elevated profitability levels and increased selling by short-term holders hint that a near-term cooldown may be on the horizon.
