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Ethereum Struggles: 74% of ETH Supply in Loss—Can It Recover?
With a staggering 74% of its circulating supply held at a loss, the future outlook for Ethereum appears increasingly uncertain. The cryptocurrency has been struggling to regain momentum since the beginning of the year, and new data reveals that a considerable portion of its users are now underwater on their investments.
According to recent on-chain metrics, nearly 106.75 million ETH is currently being held by investors at a loss, highlighting the severity of the situation Ethereum finds itself in. It appears that the majority of the market participants have lost faith in the asset’s potential for recovery, leading to a significant decline in buying pressure.
In order to recover from this dire scenario, Ethereum will need to experience an influx of fresh capital and sustained buying volume, something that has yet to materialize. Moreover, even if it manages to break through its current resistance levels, there is little confidence surrounding the prospects of short-term traders who have lost a substantial portion of their initial investment.
It is crucial for investors to consider this information before entering the market.
Source: https://www.crypto-news-flash.com/ethereum-struggles-74-of-eth-supply-in-loss-can-it-recover/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-struggles-74-of-eth-supply-in-loss-can-it-recover
