Ethereum News Today: Ethereum Surges 120% in Three Months 90% of Holders in Profit

Over 90% of Ethereum (ETH) holders are now in profit following a recent surge in the token's value, which reached $3,800 for the first time in over a year. This milestone, confirmed by data from Sentora, marks the highest level of profitability since December 2024. The data indicates that only a few addresses have purchased ETH above its current price, suggesting minimal on-chain resistance above the $3,800 mark. This could potentially drive the token to even higher levels.

The significant increase in the number of profitable ETH holders underscores the token's remarkable turnaround over the past few months. According to CoinMarketCap, the value of ETH has surged by more than 120% in the last three months, rising from approximately $1,800 to $3,800. This substantial gain has shifted the sentiment within the Ethereum community from concerns about ETH's value to bullish expectations that the asset could reach a new all-time high.

Despite a slight decline of less than 1% in ETH's value today, which appears to be a minor price correction, the overall sentiment remains bullish. Analysts from Sentora note that the first major resistance for ETH is slightly below $4,000, as 2.39 million addresses are holding at a loss in this range. This indicates that there is still potential for further gains as the token continues to attract both institutional and retail investors.

With the increasing price of ETH, demand for the token has also surged. Over the past few months, several public companies have accumulated billions worth of ETH for their treasuries. Retail investors are also showing strong interest, with social media discussions around ETH reaching levels similar to its price rise in May 2024. Ethereum now has over 152 million non-empty ETH wallets, the highest for any crypto token. This surge in interest is further evidenced by the 16% increase in the supply of ETH held by first-time buyers since early July, as reported by Glassnode data.

The impressive performance of ETH over the past three months has also sparked an altcoin season, with several tokens experiencing significant value surges. Major cap altcoins such as Solana and Dogecoin have seen gains of 7.74% and 6.70%, respectively, in the past 24 hours. Other top performers include PENGU, HEX, PLSX, and KAS, which have seen increases of 16%, 20%, 12%, and 15%, respectively. This redistribution of profits from Bitcoin's all-time high is a clear indicator of the growing interest in altcoins.

As altcoins, led by ETH, continue to soar in value, Bitcoin's dominance has declined to 59.67%, its lowest level since March 2025. In contrast, ETH's dominance has reached 11.58%, its highest level since January 2025. Despite these gains, the altcoin season is still in its early stages. According to the Altcoin Season Index, it is currently at 55/100, meaning 56% of the top 100 tokens have outperformed Bitcoin in the last 90 days. The altcoin season signal is triggered when 75% of the top 100 coins outperform BTC. Nevertheless, the signs of increased altcoin activity are already evident, with altcoin trading volume on Binance Futures reaching $100.7 billion in a single day, the highest level since February 2025.