Ethereum investors are losing money at an astonishing rate following the crash of the crypto market caused by the collapse of FTX and many of the firms that it dealed with.
According to data from blockchain analytics service provider Glassnode, the seven-day average of the number of addresses in loss reached a new all-time high of 46,762,290 addresses. Concurrently, the seve-day average of the number of Ethereum addresses in profit reached a four-month low of 43,154,884, according to another Glassnode chart.
While the number of Ethereum addresses in profit is only at a four-month low, another Glassnode chart shows that the seven-day average of the percentage of addresses in profit is actually at a two-year low. Despite all of this, old investors are holding onto their investment according to Glassnode data showing that the amount of supply last active seven to ten years ago just reached an all-time high of 3,232,522 ETH.
The news follows a recent report showing that the percentage of bitcoin’s supply last active five or more years ago reached an all-time high of 25.873%. This indicates that long-term bitcoin users started accumulating bitcoin on a large scale.