Nearly 97% of Ether Wallets in Profit, Raising Possibility of Sell Pressure

Ether’s (ETH) recent surge has pushed nearly all holders into the green, potentially setting the stage for heightened selling pressure and a pause in upward momentum.

According to analytics platform Sentora, approximately 97% of ETH addresses are now “in-the-money”, meaning the current market price of $4,225 exceeds the average acquisition cost for most holders. While this underscores the strength of the recent rally, it also introduces the risk of profit-taking, particularly as traders look to lock in gains.

On-chain data from Glassnode shows that this behavior may already be underway. Profit realization, measured using a 7-day simple moving average, has climbed to $553 million per day, signaling a renewed wave of selling. For context, realized profits peaked at $771 million per day in July.

Interestingly, the composition of sellers appears to be shifting. While long-term holders—those who have held ETH for over 155 days—were the primary profit-takers during the December 2024 peak, the current uptick in realized profits is now being driven by short-term holders.

This rotation could be a sign of increased caution in the market. While Ethereum remains in a strong uptrend, historically high levels of profitability often precede periods of cooling as sell pressure builds.