- Only 17% of Ethereum investors are making money.
- ETH is now trading at $1056, a distance of 79% from its all-time high price.
A figure from Will Sheehan, the creator of Parsec Finance, indicates that over 80% of Ethereum stakers are losing money due to the current market drop. Only 17% of Ethereum investors are making money since they acquired the currency at a lower price than it is now trading.
Tough Times For ETH Investors
Beacon Chain staking went public in December 2020 at an Ethereum price of roughly $600. Since then, ETH has been able to break beyond the $4000 level and even to an all-time high of $4891. Most current ETH stakers, as per statistics, purchased the cryptocurrency for between $2,500 and $3,500.
The statistics do not consider the extra profits that ETH staking may provide to these investors. Staking ETH has an additional yield of roughly 4.2 percent at the time. Ethereum’s genesis stakeholders are profiting, according to a different Glassnode report. However, if the price of Ethereum drops below $1000, it may reduce the number of those profiting from their holdings. ETH is now trading at $1056, a distance of 79% from its all-time high price.
Regarding widespread adoption of the Ethereum (ETH) ecosystem, transaction costs or gas fees are typically cited as the key hurdle. With the average gas charge for Ethereum dropping below 0.0015 ETH, the narrative is about to shift.
In December 2020, transaction fees on the Ethereum blockchain averaged 0.0015 ETH or $1.57, a figure that has not been reached since then. As a result of the enthusiasm around non-fungible tokens (NFT), decentralized finance (DeFi), and a prospective bull market, Ethereum’s gas costs jumped in January 2021.
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