Original author: Bhushan Akolkar
Translator: Nian Yin Si Tang
Unfortunately, retail investors are making profits every time the price of ETH rises. This means that retail investors have been transferring their ETH holdings to large investors and may miss opportunities for further increases in the future. The indicators on the necklace show that ETH is increasingly becoming a more favorable investment asset.
According to data provided by Glassnode, another on-chain analysis platform, nearly 90% of ETH addresses are now profitable, and this indicator has appeared for the first time since January 2018. For comparison, earlier this year. That is, in March 2020, only 3.2% of the Ethereum addresses holding ETH are profitable.
In addition, Bitcoin billionaire and Gemini co-founder Tyler Winklevoss also expressed a bullish view of ETH: “The current price of ETH is $735. This is 51% lower than its historical high, just like 1.4 It’s the same as buying Bitcoin at a price of ten thousand dollars.
According to the latest disclosed data, the total assets under management (AUM) of Grayscale Ethereum Trust (ETHE) has exceeded US$2.1 billion, an increase of US$400 million compared to Christmas Day. This clearly shows that the recent rebound in ETH prices is supported by institutional buying.
Many analysts said that 2021 may be the year of Ethereum. With the launch of Ethereum futures on the Chicago Mercantile Exchange (CME) in February 2021, institutional investors’ interest in ETH is likely to soar.
