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HomeEthereumEthereum holders shorting ETH in bull market should read this first

Ethereum holders shorting ETH in bull market should read this first

  • Ethereum addresses with non-zero balances have risen and reached all-time highs.
  • King Alto’s profit margin supply rate also exceeded 60.

Over the years there has been growth ethereum [ETH] The address, and the recent mergers, have added more curiosity. Ethereum’s price has fallen for much of the last year, but one statistic has risen to reach an all-time high.


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Rapid increase in positive addresses

Over the years ethereum Addresses have increased dramatically. glass node reports that it now has over 92 million addresses, a new record. But more importantly, the total number of addresses with non-zero balances is trending upward.

Source: Glassnode

“Number of addresses with non-zero balance” measures the percentage of all addresses on the blockchain that have a positive value, indicating that they have at least some Ether (ETH).

Investors are starting to liquidate their holdings and exit the market when this stat falls. This pattern may become apparent after the cryptocurrency price crashes.

However, as the metric rises, it suggests new investors are filling their wallets. This move could mark the beginning of a bull market.

Several variables may have contributed to the recent spike in address activity, but two stand out as the most plausible explanations. Most of the prices in the past year were ethereum (ETH) is going down.

New and experienced investors may increase their holdings or enter the market. Additionally, the Ethereum merger last year added a new utility to ETH. After the merger, a new type of investor was born thanks to the staking feature.

Profit increase supply rate

Looking at another key metric, given the accumulation trend of the metric, it could give us more information about the state of Ethereum (ETH).

Ethereum has surpassed 122 million in circulation, according to CoinMarketCap. More than 50% of supply (measured as supply to profit ratio) was profitable. Profit delivery was just over 68% at the time of writing.

Ethereum (ETH) Profit Supply Rate

Source: Glassnode

ETH price is trending down…

At the time of writing this article, the daily trading price of Ethereum was around $1567. A drop in value was also seen within the analyzed timeframe. That value has decreased by almost 2%, bringing the total decrease over the last 48 hours to about 3%.

Ethereum (ETH) Price Movement

Source: Trading View


Realistic or not, here it is ETH market capitalization in BTC equivalent


A contemporaneous analysis of the Relative Strength Index revealed that the market is currently in a slump. If the price falls further, the 60 RSI could drop further. However, despite the decline, it is still in a bullish trend according to the RSI line.

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