Many Ethereum holders are on the verge of profitability, and a mild decline may cause a large number of addresses to turn into losses

According to Foresight News, as monitored by glassnode, in Ethereum's market capitalization distribution based on profit and loss status, holders with a cost basis 0-20% above the current price constitute the majority. These holders have a cost basis between $2,300 and $2,500, corresponding to a market value of approximately $123 billion. This suggests that even a moderate price decline could cause a large number of holders to enter a loss-making state. Despite recent increases, Ethereum remains in a vulnerable position.