Bitcoin The rise that started under his leadership Ethereum It also mobilized all altcoins including. at this point BTCexceeding $59,000 ETH It exceeded $3,300.
While $ 3,500 is expected first after this rise in ETH, the popular on-chain data provider centimetersaid this week that the Ethereum network saw its highest profit/loss ratio since November.
Stating that the profit/loss ratio in ETH exceeds the profit/loss ratio in BTC, Santiment stated that this ratio is 2.3 to 1 for ETH and 1.8 to 1 for BTC.
Saying that this ratio indicates that there are more profitable transactions compared to the loss-making ones, Santiment underlined the trend of increasing profitability for transactions in both Ethereum and Bitcoin networks. ETH and BTC He stated that it showed a positive feeling among the owners.
Apart from Santiment BTC and ETH Cardanowhile referring to ISLAND He said the situation was different for Because Cardano became one of the few altcoins that were traded at losses rather than profitable transactions.
Finally, Santiment warned investors by stating that high profitability is a medium-term signal that local peaks have arrived.
“This week the Ethereum network is seeing its highest profitable on-chain transfer rate since November. The profit-loss ratio for ETH moves at a ratio of 2.3 to 1.
Meanwhile, Bitcoin’s profit-loss ratio is a very high ratio of 1.8 to 1.
Cardano (ADA) was one of the few altcoins that saw more losing transactions than profitable transactions.
Overall, high profit taking is a good medium-term signal for local tops to potentially appear on the horizon.
“We said this when we saw a similar signal for this Centiment metric in late November.”
📈 This week, the #Ethereum network is seeing its highest ratio of profitability #onchain transfers since November, with a 2.3 to 1 ratio of coins moving at a profit etc. loss Meanwhile, #Bitcoin‘s ratio is also quite high at 1.8 to 1. #Cardano is one of the few seeing more loss… pic.twitter.com/wLpCEpt7bZ
— Santiment (@santimentfeed) February 27, 2024
*This is not investment advice.
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