On-Chain Transaction Volume is Hinting at Very High Profit Taking This Week

📈 This week, the #Ethereum network is seeing its highest ratio of profitable #onchain transfers since November, with a 2.3 to 1 ratio of coins moving at a profit vs. loss. Meanwhile, #Bitcoin's ratio is also quite high at 1.8 to 1. #Cardano is one of the few seeing more loss transactions than profitable ones.

Generally, high profit taking is a decent mid-term signal for local tops potentially being on the horizon, as was illustrated when we saw a similar #crypto market setup for this Santiment metric back in late November.

Explore the link to this chart, and feel free to insert other projects you may be interested in!