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27 October 2020

Cointelegraph Consulting: Ethereum’s on-chain activity surges and bullish sentiment spikes

Cointelegraph Consulting: Ethereum’s on-chain activity surges and bullish sentiment spikes


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Ethereum’s on-chain activity, measured by unique daily addresses, has rebounded from its nose dive at the end of summer.

Ethereum’s Network Profit/Loss, which computes the average profit or loss of all coins that change addresses daily, are a good way of seeing which holders are panic selling at a loss.

Ethereum’s 30-day MVRV ratio, which tracks the average profit (or loss) of all addresses that acquired ETH in the past 30 days, indicates that the short-term ETH holders are, on average, currently up +8% on their initial investment.

At present, Ethereum’s 30-day MVRV ratio is still some ways away from what has historically been considered a ‘danger zone’, marking the levels at which short-term holders have looked to offload their bags in the past.

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