By Uncompromising Bearish Pressure, 61% of Ethereum (ETH) Holders Still in Profit

Market intelligence company IntoTheBlock has noted that a large part of the Ethereum holders is still experiencing profitability at the present bear market. Currently, 61% of Ether holders have a profit implying that it is a different scenario from the previous bear trends where the profitability of holders was considerably low.

This high level of profitability is quite out of the ordinary for Ethereum during a bear phase, bear phases of previous market cycles saw profitability fall to as low as 46% or even 3%. The current figures of profitability show that Ethereum is gradually becoming more and more immune to fluctuation, and therefore can help build more trust with investors and attract more entrants into the ETH market.

However, there are signs of relief for investors as shown in the price chart below; Ethereum has been trading at $2,299 after it was cut 4. 62% in the past one day trading session. This is after a pullback from a key resistance level of $2,445 as well as the inability of the cryptocurrency maintain $2,500 mark through out September. Although the overall crypto market is bearish, IntoTheBlock indicates that Ethereums bearish spell is not likely to be strongly bearish.

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