Ethereum

Cardano

2024

Bitcoin

The rise that started under the leadership of Bitcoin also mobilized all altcoins, including Ethereum. At this point, BTC exceeded $59,000 while ETH exceeded $3,300. 
While $ 3,500 was first expected after this rise in ETH, popular on-chain data provider Santiment said this week that the Ethereum network has seen its highest profit/loss ratio since November. 
Stating that the profit/loss ratio in ETH exceeds the profit/loss ratio in BTC, Santiment stated that this ratio is 2.3 to 1 for ETH and 1.8 to 1 for BTC. 
Saying that this ratio indicates that there are more profitable transactions compared to the loss-making ones, Santiment underlined the trend of increasing profitability for transactions in both Ethereum and Bitcoin networks and stated that these ratios show a positive feeling among ETH and BTC holders. 
While Santiment also touched upon Cardano apart from BTC and ETH, he said that the situation is different for ADA. Because Cardano became one of the few altcoins that were traded at losses rather than profitable transactions. 
Finally, Santiment warned investors by stating that high profitability is a medium-term signal that local peaks have arrived. 
<blockquote> 
 “This week the Ethereum network is seeing its highest rate of profitable on-chain transfers since November, with the profit-loss ratio for ETH moving at a ratio of 2.3 to 1. 
 Meanwhile, Bitcoin's profit-loss ratio is a very high ratio of 1.8 to 1. 
 Cardano (ADA) was one of the few altcoins that saw more losing transactions than profitable transactions. 
 Overall, high profit taking is a good medium-term signal for local tops to potentially appear on the horizon. 
 “We said this when we saw a similar signal for this Centiment metric in late November.” 
</blockquote> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> This week, the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> network is seeing its highest ratio of profitable <a href="https://twitter.com/hashtag/onchain?src=hash&amp;ref_src=twsrc%5Etfw">#onchain</a> transfers since November, with a 2.3 to 1 ratio of coins moving at a profit vs. loss. Meanwhile, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>'s ratio is also quite high at 1.8 to 1. <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> is one of the few seeing more loss… <a href="https://t.co/wLpCEpt7bZ">pic.twitter.com/wLpCEpt7bZ</a> 
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1762628496638304578?ref_src=twsrc%5Etfw">February 27, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/santiment-this-rate-in-bitcoin-and-ethereum-is-rising-it-could-be-a-signal-for-the-top/">Santiment: "This Rate in Bitcoin and Ethereum is Rising, It Could Be a Signal for the Top!"</a>

Santiment: "This Rate in Bitcoin and Ethereum is Rising, It Could Be a Signal for the Top!"

Bitcoin Sistemi EN

Other articles published on Feb 28, 2024

Mad Lads NFT Creators Raise $17M for Backpack Crypto Exchange Platform

Crypto Price Predictions: Dogecoin, Shiba Inu, and the Rise of Doge Uprising

Binance Coin (BNB) Shows Strength Towards ATH As BTC Recovers; Rebel Satoshi ($RBLZ) Is A Project...

Finoa and Centrifuge forge partnership to revolutionize real-world asset custody

BENQI (QI) Price Jumps 28% On Launch Day, Will Be Pump or Dump?

BlockDAG on the Verge of a 5000% Surge Will Eclipse Polkadot and BONK in 2024

Join our free newsletter for daily crypto updates!