Fintech and cryptocurrency-focused publication, Benzinga, today released a report that reveals that the majority of Bitcoin, and Ethereum held, is actually in profit.
According to a data study published by retail investor and cryptocurrency trader oriented Fintech media firm, Benzinga “If You’ve Lost Money Investing in Crypto, You May Be a Bad Investor.” Published on Thursday, the 15th of March, the study reviewed on-chain data from crypto assets, Bitcoin, and Ethereum, finding that most of the digital assets held by investors are in profit.
Although Bitcoin shed 50% of its value over the past two months, around 70% of the Bitcoin that exists is actually in a profitable position. The other near-30% of Bitcoin positions sold – which was held by short-term traders – were sold at a loss.
Second in command – market cap-wise – Ethereum, revealed a similar trend, with about 80% of the digital asset being held in the green. This suggests an expectation, by traders/investors, that $ETH may increase in value, following an upgrade to the token’s network – scheduled for the 4th of August.
The upgrade, known as EIP-1559, will deliver an alteration to the Ethers blockchain’s transaction processing capabilities. Moving away from a Proof-of-Work based approach to consensus, people transacting in $ETH will – following the EIP-1559 protocol upgrade – Incentive’s transaction processing by paying a fee, and tip to miners.
The report titled If You’ve Lost Money Investing in Crypto, You May Be a Bad Investor offers other tidbits of information and analysis regarding cryptocurrencies. Click the above link to get deeper insight into markets.