#ETH After months of market instability, Ethereum holders are profitable again.

After the sharp increase in price, blockchain data now indicates a strong recovery of profitability for wallets across the network.
According to blockchain analytics company Sentora, nearly 60% of Ethereum wallets currently hold tokens acquired below market value – up from just 32% in April. This change reverses the downward trend that began in late 2024, when profit margins collapsed along with the decline of ETH.
The Sentora analysis, which tracks profitability through the "In/Out of the Money" indicator, compares the acquisition price of each address with current spot rates. The company noted that Ethereum has not experienced such extreme fluctuations in investor profitability since the cycle in 2017.
Additional data from Glassnode confirms that the leading altcoin has regained important reference values for assessment. The asset has surpassed its realized price – an indicator reflecting the average cost basis on the network – which is currently close to $1,900. It has also crossed above the true market average of $2,400, which is adjusted for inactive supply.
The last hurdle? The active realized price of approximately $2,900, which would mark a full recovery for active market participants.
With most holders back in profit and critical thresholds in the blockchain restored, the latest rise of Ethereum appears more stable than recent attempts.