Bitcoin (BTC) And Ethereum (ETH) See Highest Transactions In Profit Since November


Bitcoin (BTC) and Ethereum (ETH) have recorded their highest transactions in profit since their all-time high (ATH) price in November, as per the on-chain data from Santiment. Moreover, the transactions in profit have exceeded three times than transactions in a loss. Both Bitcoin (BTC) and Ethereum (ETH) had recently hit their highest price levels in 2022 as interest in the top cryptocurrencies rises. The latest Santiment data points to rising interest in BTC and ETH at current levels.

Bitcoin and Ethereum Record Largest Transaction in Profit Ratio

On-chain analytics platform Santiment announced in a tweet on April 1 regarding Bitcoin and Ethereum registered the highest profit transactions in profit since the first week of November. According to the Bitcoin (BTC) and Ethereum (ETH) profit/loss transaction ratio data, the transaction spikes have reached their highest levels on March 29.

“Both #Bitcoin and #Ethereum saw transaction spikes at their tops a couple days ago. We can see whether transactions are taken while a position is in profit or at a loss. For the first time since November, there were 3x as many profit tx’s vs. loss tx’s.”

Bitcoin and Ethereum Profit-Loss Tx Ratio. Source: Santiment

The ratio of daily on-chain transaction volume in profit to loss shows rising interest in cryptocurrencies at current levels as whale buying and exchange outflows rise. Moreover, it also reveals whether transactions were performed while a position is in profit or at a loss.

Bitcoin and Ethereum Price Momentum

Both the largest cryptocurrencies Bitcoin and Ethereum hit the 2022 high levels of $48,086 and $3,470, respectively on March 29. Moreover, as per CoinMarketCap data, the BTC price has plunged nearly 5% in the last 24 hours, with the current price trading at $44,838 and trading volume up almost 36%. On the other side, the ETH price has slipped nearly 4% in the last 24 hours, with the current price trading at $3,261 and up almost 34%.

The latest Santiment data reveals the influx of crypto traders’ interest in both Bitcoin and Ethereum as the average transaction volumes continue to grow.

 

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Divyansh Singh

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