Out-of-the-Money Crypto Reality Check – Ethereum (ETH)’s price is trading at a fraction of what it was trading a year ago. The second most popular by market volume, however, is not alone.
The cryptocurrency market has lost over 90% of its value in the past year. One thing, however, that stands out about Ethereum is just the fact that the majority of investors are bleeding money.
Ethereum (ETH) is currently trading at $131. That’s a 90% price drop from its all-time high of $1,431 when the entire crypto market exploded and altcoins experienced the highest gains in 2018; particularly in January.
Ethereum (ETH) out-of-the-money addresses / wallets
As harsh crypto reality set in and the market crashed, 31.31 million Ethereum addresses were labeled “out-of-the-money.” That’s 90% of all Ether addresses, according to IntoTheBlock; a blockchain and crypto intelligence agency created by a team of data scientists, Al geeks and crypto experts.
In the Ethereum blockchain, a wallet is labeled “out-of-the-money” if ETH’s current trading price is lower than the price the buyer paid for each Ether coin or when it or sent it to the address.
This means the 31.31 million addresses that are out-of-money acquired their ETH at a price higher than $131 (Ether’s current trading price).
IntoTheBlock estimated the majority of out-of-the-money Ether addresses acquired ETH between $211 to $530. The biggest batch of out-of-the-money Ethereum addresses purchased in the $262 to $352 price range.
Out of the 31.31 millions out-of-money Ethereum adderesses, 3.58m paid between $745 to $1,340. ETH traded in that price range for only six months, from September to December 2017 and until 1st quarter of 2018.
According to the published research paper, only 2.79m Ethereum addresses are labeled “in-the-money.” That’s a meager 8% of all addresses. In-the-money means the buyer paid lower than current trading price per Ethereum coin ($0 to $130).