Ethereum’s movement last week was full of mixed signals as Spot Ethereum ETFs started to witness good inflows. Notably, ETH has been on a rally since the middle of September, reflecting a 25% gain from the September 6 low of $2,171 as it crossed $2,715 on September 27. Related Reading: XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance This rally and the well-anticipated inflows in Spot Ethereum ETFs brought a much-needed breather into the Ethereum ecosystem. According to on-chain data, last week’s price action saw many Ethereum addresses moving into the profitability zone. Particularly, last week’s rally pushed Ethereum’s profitability from 59% of addresses to 69%. Ethereum Addresses See Much-Needed Profitability After enduring weeks of market consolidation and outflows from Spot Ethereum ETFs, Ethereum’s price began an upward trajectory in the middle of September that has reignited investor interest. According to data shared by on-chain analytics platform IntoTheBlock (ITB), the rally has led to more than two-thirds of Ethereum holders being in profit. The key to understanding this development lies in ITB’s “In/Out of the Money” me ..
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