ETH Profit-Taking Hits 3-Week High Despite 5.5% Price Drop
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Ethereum's on-chain realized profits spiked to $74.58M in a single day, the highest in three weeks, even as ETH fell about 5.5% over the past three days. Santiment attributes the surge to traders who bought ETH below $2,000 in February and March cashing out, indicating profit-taking and potential selling pressure for the crypto market.
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Ethereum’s network recorded its highest realized profits in three weeks on Thursday, with $74.58M booked in a single spike even as the asset’s price fell roughly 5.5% over the past three days.
The data, published by on-chain analytics firm Santiment, points to a specific group of sellers: traders who bought ETH when it was trading below $2,000 during February and March and are now cashing out while they still can.
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$ 1.87K
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In This News
Coins
$ 1.87K
-5.12%$ 1.87K
-5.26%Predictions Markets
See what traders are focused on
Share:
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