On-chain data shows that Ethereum traders are capitulating following the slowdown of the rally, something that may turn out to be positive.
Ethereum Traders Are Selling At A Loss Right Now
According to data from the on-chain analytics firm Santiment, ETH investors are getting increasingly frustrated as they are now participating in significant loss-taking.
The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name already implies, compares the profit-taking volume to the loss-taking volume for any given cryptocurrency.
This metric works by going through the on-chain history of each coin being sold/transferred to see the price at which it was previously moved. If this last selling price for any coin was less than the current spot price, then that particular token is now being sold at a profit.
Naturally, the sale of this coin would count under the profit-taking volume. Similarly, the opposite type of coins would contribute t
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