According to Foresight News, data from Glassnode indicates that a significant portion of Ethereum holders are currently in a precarious position. The majority of these holders have acquired Ethereum at prices 0 to 20% above their cost basis, with their purchase prices ranging between $2,300 and $2,500. This group represents a market value of approximately $123 billion.
The analysis suggests that even a moderate decline in Ethereum's price could push a large number of these holders into a loss-making situation. Despite recent price increases, Ethereum remains in a vulnerable state, highlighting the potential risks for investors in the current market climate.
