According to Odaily Planet Daily, IntoTheBlock revealed that the proportion of profitable holders fell to a low of 46% in the recent bear market, while after the 2017 cycle, the proportion fell to only 3%.
This comparison suggests that Ethereum’s current cycle is showing greater resilience, with many holders remaining profitable even during downturns, reflecting stronger confidence in ETH’s long-term value.
At one point during 2019/2020, ETH’s profitable addresses fell below 10%. While a similar scenario could lead to a revisit of the bear market lows, the current market suggests that any downturn may not be that severe.