以太坊投資者的盈利能力在最新的資產價格集會之後，盈利能力急劇

在X上的新帖子中，機構Defi解決方案為Sentora（以前是Intotheblock）提供了有關以太坊網絡上的利潤損失狀況如何改變的。

On-chain data from blockchain analytics firm, IntoTheBlock, has shown that the Ethereum investor profitability has seen a sharp turnaround following the latest rally in the asset’s price.

區塊鏈分析公司Intotheblock的鍊鍊數據表明，在資產價格最新集會之後，以太坊投資者的盈利能力急劇下降。

In a recent post on X, formerly Twitter, the institutional DeFi solutions provider highlighted the Historical In/Out of the Money indicator, which showcases what portion of the ETH userbase is in profit, loss, and just breaking even.

在X（以前是Twitter）的最近的一篇文章中，機構Defi Solutions提供商強調了歷史上的貨幣指標，它展示了ETH用戶群的哪些部分是盈利，損失，甚至只是破裂。

The indicator works by going through the on-chain history of each address on the network to identify the average price at which they accumulated their coins. If this average cost basis is lower than the current spot price for any wallet, then that particular user is considered to be in the money. Conversely, the address is assumed to be out of the money in the opposite case, and at the money when the two prices are equal.

該指標通過瀏覽網絡上每個地址的鍊鍊歷史來確定他們積累硬幣的平均價格。如果此平均成本基礎低於任何錢包的當前現貨價格，則該特定用戶被認為是貨幣。相反，在相反的情況下，地址被認為是不合錢的，當兩個價格相等的錢時。

Here’s a chart from IntoTheBlock’s post that shows the trend in the Ethereum Historical In/Out of the Money over the past decade:

這是Intotheblock帖子中的圖表，顯示了過去十年來以太坊歷史趨勢的趨勢：

As displayed in the above graph, the in the money Ethereum investors had observed a steep drop following the selloff that started in December 2024. Prior to this drawdown, the metric was sitting above 90%, implying the vast majority of the users were holding unrealized gains. By April 2025, however, the situation had completely flipped for the investors as this value had come down to just 32%.

如上圖所示，以太坊投資者在2024年12月開始的拋售後急劇下降。在此縮減之前，該指標佔90％以上，這意味著絕大多數用戶持有未實現的收益。然而，到2025年4月，由於這個價值僅降至32％，因此投資者的情況已經完全消失了。

Now, yet another shift seems to have occurred for the cryptocurrency’s addresses, as the ETH price has this time seen a sharp rally. Almost 60% of the holders are now back in the money, which, while still not quite near the same level as late last year, is significantly higher than the low.

現在，加密貨幣的地址似乎發生了又一次轉變，因為這次ETH PRISS已經看到了急劇的集會。現在，幾乎有60％的持有人又回到了貨幣中，雖然與去年年底的水平不高於相同的水平，但其水平明顯高於低點。

In the chart, the analytics firm has highlighted when Ethereum last saw such sharp swings in profitability. “The asset hasn’t witnessed volatility on this scale since the 2017 cycle,” notes Sentora.

在圖表中，分析公司強調了以太坊上一次看到盈利能力如此急劇的搖擺時。 Sontora指出：“自2017年周期以來，資產就一直沒有看到這種規模的波動。”

In some other news, ETH has reclaimed two important on-chain levels following its recovery run, as the analytics firm Glassnode has discussed in its latest weekly report.

在其他一些新聞中，ETH在其恢復恢復後恢復了兩個重要的鏈層，正如分析公司GlassNode在其最新的每週報告中所討論的那樣。

From the chart, it’s apparent that Ethereum reclaimed the Realized Price early on in the run. The Realized Price represents the average cost basis of all investors on the ETH network. Currently, this level is situated at $1,900, meaning that at the current exchange rate, the holders would be in notable profit.

從圖表中，顯然以太坊在跑步的早期就收回了實現的價格。實現的價格代表了ETH網絡上所有投資者的平均成本基礎。目前，此級別的價格為1,900美元，這意味著以當前的​​匯率，持有人將獲得明顯的利潤。

The cryptocurrency has now also managed to surpass the True Market Mean located at $2,400, which is a model is similar to the Realized Price, except for the fact that it aims to find a more accurate average acquisition level for the market by excluding long-lost dormant supply.

該加密貨幣現在還設法超過了位於2,400美元的真實市場平均值，這是一個類似於實現價格的模型，除了它旨在通過排除失散較低的休眠供應來找到更準確的市場平均收購水平。

Ethereum now has just one more level left to reclaim: the Active Realized Price at $2,900, which is again a model that iterates on the Realized Price.

以太坊現在只剩下一個水平要收回：活躍的實現價格為2,900美元，這再次是按實現價格迭代的型號。

ETH Price

ETH價格

Ethereum has climbed to the $2,660 mark following a rally of about 4% in the last week.

在上週的集會大約4％之後，以太坊已攀升至2,660美元。