Ether (ETH) has seen a 43% year-to-date decrease, reaching a high of $3,744 in 2025 before dropping to its current price of $1,899. According to CryptoQuant CEO, Ki Young Ju, ether has witnessed unprecedented levels of active selling in the last three months, the highest in five years.
Research from CoinDesk shows that the ether-to-bitcoin (ETH/BTC) ratio has hit a five-year low, and the four-year compound annual growth rate (CAGR) has turned negative against bitcoin.
Since 2020, ETH has only dropped below $1,900 a few times. If you had bought ether between June 2022 and October 2023, as well as throughout 2020, you would currently be making a profit.
EtherUSD (TradingView)
According to Glassnode data, short-term holders (STHs) of ETH, who have held it for less than 155 days, are experiencing realized losses. Additionally, long-term holders (LTHs) are also starting to give in.
Furthermore, data from Glassnode shows that the major realized losses are coming from whales holding 100,000 ETH or more, especially since February.
ETH: Realized Loss by Wallet Size (Glassnode)
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
