Ethereum’s YTD turns profits despite price fluctuations


Ethereum’s Year-to-Date Performance and Price Analysis

Ethereum (ETH) has experienced a rise in its price on only three occasions this year, with the most recent being a 7% increase on July 13th. Despite this, ETH has gained a total of 66% in value since the beginning of the year.

Ethereum Value Year-to-Date

The price of Ethereum has fluctuated throughout the year, but recent ups and downs have overshadowed its overall trajectory. However, according to a recent post by Artemis, ETH has achieved a notable 66.7% year-to-date increase. This suggests that those who bought ETH at the beginning of the year and held onto it have seen profitable returns.

Examining Ethereum’s Price Trend

Ethereum has experienced a significant upward trend starting from around $1,200 and sustaining it for nine consecutive days. During this bullish phase, the price reached approximately $1,600. Notably, a golden cross event occurred during this uptrend, indicating a strong bullish sentiment. Ethereum’s price currently stands at around $1,940, showing a slight increase.

Long-Term Holders Stay Profitable

The Market Value to Realized Value (MVRV) ratio of Ethereum reveals that long-term holders have generally remained profitable, despite the volatility witnessed this year. The current MVRV ratio stands at 7.3%, suggesting further potential for growth. In April, the MVRV ratio exceeded 39%, indicating the possibility of an increase in the value of Ethereum holdings.

Overall, Ethereum’s performance in YTD has been impressive, with notable increases in value and profitable returns for long-term holders.

See also  10 Years In, Bitcoin Icon Ross Ulbricht Fights for Justice

By Team