Benzinga - Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) investors are underwater as the waves of FTX's fall continue to roll across the cryptocurrency markets.
What Happened: Data shared by cryptocurrency on-chain analytics firm Glassnode showed the seven-day average of the number of Ethereum addresses in loss just reached an all-time high of 46,305,768.
Furthermore, data shared by competing firm IntoTheBlock showed that most — 51.87%, to be exact — Bitcoin was now in loss for investments for the first time since March 2020. Previous records include 62% in 2015 and 55% Bitcoin addresses in loss in 2018.
See Also: Is Bitcoin A Good Investment?
The news followed recent reports that the number of Bitcoin addresses holding at least 1,000 BTC — for a minimum value of about $15.9 million as of press time — reached a three-year low of 2,090.
This is an important data point since such big holders are a major influence in the crypto economy and some of the biggest experts in riding its waves. When those holders sell, major downturns usually follow.
See Also: Crypto Analyst Who Predicted Bitcoin Collapse Now Says 'Drop To Lower Levels Will Happen In Near-Term'
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