- Ethereum climbs past $3,000 for the first time in five months, pushing nearly 80% of all ETH into profit and reviving bullish sentiment.
- Over 124 million ETH tokens are now above their original price, just 13 million shy of the highest profitability ever recorded in 2024.
- With most ETH holders now in profit, the rally could keep rising or trigger short-term sell pressure as traders lock in gains.
Ethereum has reclaimed $3,000 for the first time since January 31, signaling a powerful comeback in 2025. This marks a surge in network profitability, with nearly 80% of all ETH supply now in profit.
According to fresh data from Santiment, over 124.53 million ETH out of the 155.04 million in circulation have risen above their cost basis. This points to renewed optimism and stronger investor confidence after months of stagnation. This metric is just 13 million tokens short of the all-time high set in December 2024.
Besides the price rally, Ethereum’s profitability trend shows a sharp shift in market sentiment. In early 2025, ETH struggled below critical support levels. However, a reversal began in mid-May, and momentum accelerated in late June. Consequently, the current rally is more than just technical.
Source: Santiment
Profitability Hits a New High
Ethereum’s on-chain metrics have turned extremely bullish. At this stage, 79.96% of ETH holders are in profit. This is the highest level since the start of the year. Moreover, the steady price rise aligns perfectly with this jump in profitability. The $3,000 mark has now turned into a psychological trigger point.
Additionally, this level serves as a reference for market strength. It is not just a resistance line—it’s also a sentiment gauge. Holding above it may lead to even greater inflows and buying pressure.
Caution as Sell Pressure Builds
However, not all signals point up. A higher number of tokens in profit often invites short-term selling. Many traders may look to cash out at local tops. Hence, while the upside potential is strong, the market could face volatility in the near term.
Moreover, Ethereum’s sharp rebound may lead to knee-jerk reactions, especially from speculators. Analysts suggest that a break above $3,100 could start the next wave of momentum.
