As investors continue to sell off Ethereum, on-chain data shows a mix of capitulation and profit-taking among long-term holders. With losses of $141.3 million and profits of $230 million realized in recent days, Ethereum's mean coin age has also seen a notable spike, indicating selling activity from the one to three-year cohort. Keep an eye on these metrics to see if selling pressure strengthens and affects the price of ETH.
Ethereum's Recent Sell-Off: Capitulation and Profit-Taking
Background
Ethereum, the second-largest cryptocurrency by market capitalization, has witnessed a significant sell-off in recent days. This decline has been attributed to a combination of factors, including macroeconomic uncertainty, regulatory concerns, and profit-taking by early investors.
On-Chain Data
According to on-chain data, the sell-off has been characterized by a mix of capitulation and profit-taking among long-term holders. Capitulation refers to the selling of an asset at a loss to avoid further losses, while profit-taking involves the selling of an asset to realize gains.
Mean Coin Age
The mean coin age of Ethereum has also seen a notable spike. Mean coin age measures the average number of days that coins have not been moved. A spike in mean coin age typically signifies that coins that have been held for a long time are being sold. In Ethereum's case, the mean coin age has spiked to its highest level since July 2021, indicating that the selling activity is primarily coming from the one to three-year cohort of holders.
Factors Contributing to the Sell-Off
FAQs
1. Is this a temporary sell-off or a larger trend reversal?
It is difficult to predict with certainty whether this sell-off will continue or reverse. However, the combination of capitulation and profit-taking suggests that there is some selling pressure in the market.
2. Will the price of ETH continue to fall?
The price of ETH may continue to experience volatility in the short term. However, its long-term prospects will depend on a variety of factors, including macroeconomic conditions, regulatory developments, and technological advancements.
3. Should I sell my Ethereum now?
The decision of whether or not to sell Ethereum is a personal one. Investors should consider their own financial situation, risk tolerance, and investment goals.
4. Are there any positive indicators to watch for?
Despite the sell-off, there are some positive indicators to watch for, such as increasing developer activity and the upcoming Ethereum 2.0 upgrade.
5. What did the sell-off in 2018 teach us?
The sell-off in 2018 taught us that cryptocurrency markets can be highly volatile and that it is important to invest with caution. It also highlighted the importance of long-term perspective and fundamental analysis.
Arfa Javaid, a young and talented content writer from Delhi, has made a name for herself in the writing and editing industry. With her skills and expertise, she has become a published writer on various platforms such as YourQuote, Nojoto, UC News, NewsDog, and jagranjosh.com. Through her hard work and dedication, she has established herself as a top content writer and has become an inspiration for others in the field. Her success story serves as a testament to the growth and opportunities in the writing industry, making her a role model for aspiring writers.
Anant Ambani, the youngest son of India's richest man Mukesh Ambani, will be receiving a significant salary of up to ₹20 crore per year, according to a shareholder notice filed by Reliance Industries. This is in addition to perquisites and allowances, as well as a share of the company's net profits, which will be determined by a committee. Anant, who has a Bachelor's degree from Brown University, is leading the expansion of the company's energy and materials businesses and driving its goal to become a Net Carbon Zero company by 2035.
Hundreds of bike taxi riders in Karnataka have taken to the streets to protest the state government's ban on bike taxi services. The riders are facing financial struggles as they have been stripped of their source of livelihood. Despite submitting letters and staging protests, the government has not yet indicated any policy reversal. However, the Transport Minister has directed strict actions against ride-hailing apps and auto-rickshaw drivers for charging exorbitant rates.
The decision by India to ban the import of certain jute products and woven fabrics via land route has left Bangladeshi exporters reeling, as they say they are the "victims of politics". With the ban, exporting these products to India through sea route would result in a significant increase in cost, in addition to losing their upper hand in the jute export sector. This is the third such ban imposed by India on imports from Bangladesh in three months, causing further uncertainty and inconvenience for exporters.
Oracle's CTO, Larry Ellison, has set his sights on becoming the top player in cloud databases, applications, and data centers. With their strong foothold in the market and growing demand for cloud migration, Ellison believes Oracle is uniquely positioned to achieve this goal. The company's multicloud strategy, specifically designed for AI workloads, has also proved to be a popular choice among customers with a 115% quarter-over-quarter revenue growth. However, the competition in cloud applications, particularly from Salesforce, may pose a challenge for Oracle's ambitious plan.
The farmers in Kerala's Thrissur district are facing a crisis as the state government has failed to fulfill their promises, including timely payment for paddy crops and incentives. The farmers are struggling with a loss of Rs 414 crore due to a decrease in the incentive amount provided by the government. They also demand repairs for crucial infrastructure like regulators and motor pumps, as well as timely availability of quality seeds and fertilizers. The delay in paddy payments is causing loan repayments to be delayed, adding to the farmers' financial burden.
The apparel sector in India has been experiencing significant growth in recent years, but this growth has come with its costs. Forces such as foreign companies, e-commerce, and changing fashion cycles have disrupted the market, leading to an increase in affordable and disposable clothing. As a result, traditional sustainability practices, rooted in local sourcing and durable materials, are being challenged. However, the rise of thrifting, which promotes circularity and challenges the throwaway culture, offers a middle ground between traditional methods and the appeal of fast fashion.
As part of its ongoing efforts to support military veterans and first responders, FOX News Network is offering exclusive deals for its streaming service, Fox Nation. Customers can contact Fox's online representatives for more information or visit their help page FAQ for assistance. Additionally, as part of their privacy policy, Fox is committed to protecting the rights of its customers under the CCPA.
The rapid shift in the cyber insurance landscape from a niche product to a critical business requirement has been driven by the rise in evolving cyber threats, according to Evaa Saiwal, Head of Liability Insurance at Policybazaar for Business. This growth is not just limited to large corporations, but is also being seen among SMEs and emerging sectors. Cyber insurance typically covers financial losses and liabilities resulting from cyber incidents and has two key components - first-party and third-party coverage. As cyber threats become more frequent, integrating cyber insurance with broader cyber risk management strategies will be essential for maintaining business continuity and creating a secure and resilient digital business environment.
Chairman of the Adani Group, Gautam Adani, joined the annual Rath Yatra in Puri, Odisha to participate in the chariot procession of Lord Jagannath, Lord Balabhadra, and Devi Subhadra. His humble seva (service) embodies the philosophy of "Seva hi Sadhana hai" (service is worship) that guides his personal and professional life. This symbolic gesture showcases the convergence of India's spiritual legacy with corporate responsibility, highlighting leadership as a balance between grounding and vision. Along with his presence, Adani Foundation teams also provided various forms of support to the pilgrims, such as distributing free meals and drinks, aiding in sanitation drives, and supporting the beach lifeguards. This commitment to holistic seva is a lived value that embodies the Adani Group's motto of "growth with goodness."