#ETHRally

$ETH Aims for $5K: Meanwhile, $152M in Trader Positions Liquidated

Ethereum continues to grow and set new records. On August 8, the circulating supply reached a maximum of over 121 million ETH. Furthermore, 97% of addresses on the network are currently in profit, meaning their average acquisition cost for coins is lower than the current market price of $4,452.

The price increase has been painful for short-sellers. Over the past 24 hours, a total of $152 million in Ether trader positions were liquidated. Of this amount, short positions accounted for almost $94 million.

Analysts do not rule out that the next resistance zone will be the $5,000 mark. If so, it would break the all-time high of $4,875 set in 2021. However, there is a big "but." As we previously wrote, large players have transferred significant volumes of Ether to exchanges. This is usually done to sell the coins and lock in profits. If sellers start putting pressure on the price, ETH's growth dynamic could slow down.

The realized profit of ETH (7-day SMA) peaked at $771 million per day in July, surpassing December 2024 levels, and is now rising again to $553 million per day. Long-term holder profits are consistent with December 2024 levels. The most active were short-term investor positions, which are actively locking in profits.

However, whales are still accumulating coins. Recent ETF inflows and institutional purchases are supporting the bullish sentiment, counteracting the volatility from exiting traders.