MarketPR
On-chain analytics firm Santiment says $ETH negative social sentiment has sunk to its lowest reading of 2025, and only 11% of circulating supply is currently held in profit — a level last seen in 2017.
The firm argues those two data points together signal that selling pressure may be largely exhausted, setting up a potential contrarian entry for investors willing to look past the noise.
What the On-Chain Data Actually Shows Santiment tracks "supply in profit," which measures the share of circulating ETH purchased below the current market price.
At 11%, that figure means roughly nine out of ten ETH holders are underwater on their positions.
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