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Over the weekend, Ethereum (ETH), the second largest cryptocurrency and the largest altcoin, traded primarily in the range of $1700 to $1750. ETH changes hands at $1725, reflecting a 0.25% decrease in the last 24 hours, while data shows that the profitability of Ethereum wallet addresses remains above 50%. 
<h2 style="text-align: justify;" id="span-data-contrast-auto-ethereum-8217-s-profitability-outlook-span-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Ethereum&#8217;s Profitability Outlook </h2>
Despite its short-term performance, Ethereum continues to be one of the most appealing cryptocurrencies in the industry, offering long-term returns. With a market cap of $207.41 billion, ETH has increased its value by 43.96% since the beginning of the year (YTD), providing relative profitability. 
According to recent data, more than 50% of Ethereum wallet addresses are in profit despite the substantial market volatility observed in recent weeks. Crypto analysis company IntoTheBlock&#8217;s data reveals that 57.5 million Ethereum wallet addresses are profitable, accounting for 59.66% of total active wallet addresses. The total number of wallet addresses at a loss is 36.84 million, corresponding to 38.22% of total ETH-holding wallets. The data also indicates that approximately 2.05 million wallet addresses are at breakeven, showing no profit or loss. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-85247 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20.png" alt="" width="1958" height="756" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20.png 1958w, https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20-300x116.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20-768x297.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20-1536x593.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/eth-20-1200x463.png 1200w" sizes="(max-width: 1958px) 100vw, 1958px" />
This data reflects the strong position of ETH in the midst of regulatory approach threatening crypto exchanges and many altcoins like Cardano (<a href="https://en.coin-turk.com/cardano-ada-whale-activity-sparks-potential-rebound-amid-legal-troubles/" data-wpel-link="internal">ADA</a>) and Solana (SOL). As the obstacles faced by the crypto market are expected to serve as a support for Ethereum, many predict that ETH will serve as a safe haven in case of a regulatory liquidation to determine which altcoins are securities. 
<h2 style="text-align: justify;" id="span-data-contrast-auto-eth-8217-s-long-term-outlook-span-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">ETH&#8217;s Long-Term Outlook </h2>
Despite the severe challenges faced by the crypto market, Ethereum continues to be one of the top altcoins with an extremely positive projection to surpass <a href="https://en.coin-turk.com/bitcoins-resurgence-and-render-tokens-striking-rise-a-snapshot-of-the-cryptocurrency-market/" data-wpel-link="internal">Bitcoin</a> in the long term. 
The Ethereum Foundation is preparing to transform the Ethereum Blockchain into a fully functional Proof of Stake (PoS) asset with multiple updates planned to be implemented over the next few months. Based on its long-term outlook and planned development efforts, it seems extremely reasonable to expect ETH&#8217;s price to continue its upward movements in the long term. 
The post <a rel="nofollow" href="https://en.coin-turk.com/ethereum-eth-maintains-attractive-profits-despite-market-volatility/" data-wpel-link="internal">Ethereum (ETH) Maintains Attractive Profits Despite Market Volatility </a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Ethereum (ETH) Maintains Attractive Profits Despite Market Volatility

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