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How Bitcoin, Ethereum are luring in holders with surging profits

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As of this writing, over 83% of the Bitcoin supply and 84% of Ethereum supply was in profit.

Bitcoin and Ethereum make history: Surging profits and rising holders amidst price fluctuations

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  • Bitcoin and Ethereum hit historic profit levels.
  • ETH and BTC have yet to sustain uptrends in price.

Bitcoin [BTC] and Ethereum [ETH] have reached historic profit levels despite recent price fluctuations. As profits surged to noteworthy milestones, the number of holders has also steadily risen.

Bitcoin, Ethereum hit historic profit levels

An analysis of Santiment data showed that Bitcoin and Ethereum have achieved historic profit levels.

As of this writing, over 83% of the Bitcoin supply was in profit, although this marked a decline from the 89% observed at the beginning of the year.

Similarly, the Ethereum supply in profit was currently over 84%, slightly down from the over 85% recorded at the start of the year. It’s worth noting that the current profit levels for these assets are historic because the last time such levels were observed was in 2021.

Bitcoin and Ethereum profit levels

Source: Santiment

More Bitcoin and Ethereum holders keep emerging

An analysis of Bitcoin and Ethereum holders on Santiment showed a parallel growth with the rising supply in profit.

Examining the total number of Bitcoin holders from August 2023 to the present, there has been an addition of over 4 million holders.

As of this writing, the number of BTC holders was almost 53 million. Also, the chart showed an upward trend, signifying an ongoing increase in holders.

Number of BTC and ETH holders

Source: Santiment

Similarly, an analysis of the total number of Ethereum holders during the same period showed an increase of over 9 million.

As of this writing, the number of ETH holders was nearly 113 million. Also, like BTC, there was a noticeable upward trend in the chart, indicating a consistent rise in the number of holders.

ETH maintains a bull trend while BTC falls from it

The daily timeframe chart for Ethereum showed recent fluctuations between profits and losses.

Despite this, the price has sustained higher than those observed in the preceding months. As of this writing, Ethereum was trading at around $2,500, experiencing a decline of less than 1%.

Despite this, the Relative Strength Index (RSI) suggests a strong bull trend, with the RSI just below 60.

ETH/USD price trend

Source Trading View

In contrast, the daily timeframe chart for Bitcoin reflects a less favorable recent price performance. Trading at around $42,500 as of this writing, Bitcoin has encountered a decline of less than 1%, placing it in a bear zone.

Is your portfolio green? Check out the BTC Profit Calculator

The BTC RSI was below the neutral line, indicating a bearish trend.

CoinMarketCap data revealed that the current circulating supply of Bitcoin was around 19.6 million, while Ethereum’s circulating supply was about 120.1 million.

BTC/USD price trend

Source: Trading View


Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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