90% of Ethereum Addresses Fall in the Category of Out-of-the-money

Ethereum's trading price has witnessed a major drop in the past year. The value of this cryptocurrency market has dropped by a whopping 90%. As much as the demand for Cryptocurrency is rising, Ethereum went through a 90% drop in its trading value in 2019. The crypto traded at the best rate i.e. $1,431 in January 2018. 

However, the current price of this crypto coin has dropped to $131. In the past year, Cryptocurrency had experienced the major gain with Altcoin being one of the high-demand coins.

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Ethereum Price Drops – 31 Million Ethereum Addresses Got into Out-of-the-money Label

As the value of Ethereum dropped heavily, approx 31 million Ethereum Addresses were marked out-of-the-money. Basically, 90% of the total Ethereum addresses were marked out-of-the-money, leading to a major fall in its prices. The ETH addresses are assigned the out-of-the-money tag when the recent trading price of Ethereum coins is much lower than the price people paid to buy it earlier. 

As far as the current scenario is concerned, 31 million Ethereum addresses were given this tag because they purchased Ether coin at a cost higher than $131. If research is to be believed, then a majority of people purchased Ether coin between $211 and $530. As a result, they all got into out-of-the-money condition when the price of this crypto coin witnessed a drop.

Crypto Reality Check: 90% of Ethereum Wallets Are Labeled As “Out-of-The-Money”

Amongst these 31 million crypto investors, 3.8 million had purchased Ether coin between $745 and $1,340. Unfortunately, this Crypto coin traded at this rate for only a period of six months. Moreover, studies suggest that only 2.8 million of Ether investors are labeled in-the-money. The figure is only 8% of the total Ethereum investors. When the investor purchases Ether coin at a price lower than the current price, then their Ethereum address is labeled in-the-money.