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14:41 ETData Shows The Majority of Bitcoin is Held at a Profit

Despite Bitcoin plummeting 50% in value, about 70% of Bitcoin in existence are held in profit. Not only this, but on-chain data suggests that those who have sold their Bitcoin in the recent months were short-term holders selling at a loss.

Ethereum has shown a similar trend, with about 80% of the token's supply held at a profit. Many cryptocurrency investors are expecting their investments to appreciate after the upgrade to Ethereum's network slated to launch on August 4th, 2021.

This upgrade, dubbed EIP-1559, will change the framework for transactions on Ethereum. Rather than bidding for network space to process transactions on Ethereum, users will pay a base fee plus a tip to Ethereum miners. This base fee is burned, reducing the supply of Ether in existence. As more users interact with the Ethereum blockchain, more Ether will be burnt, causing Ethereum's supply to become deflationary.

Read If You've Lost Money Investing in Crypto, You May Be a Bad Investorin its entirety for the full report and analysis.

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