Coinbase Institutional said ETH gained 71% in the third quarter, while on-chain data has yet to show clear signs of overheating in the asset’s price action. According to the firm, the share of ETH supply currently in profit has moved out of the accumulation range, signaling that the market is no longer in the earlier phase indicated by that metric. Even so, the ratio remains well below the warning zone tracked by historical indicators. That suggests the current market has not yet reached a level that past readings would associate with an overstretched rally. The update was cited by BlockBeats on Oct. 10 as part of a market analysis note focused on Ethereum’s recent performance and the state of on-chain positioning.
Coinbase Institutional said ETH rose 71% in the third quarter, but on-chain indicators do not yet point to obvious overheating in its price trend, according to a BlockBeats report published on Oct. 10.
The data showed that the share of ETH supply in profit has moved out of the accumulation range, yet it remains far below the warning zone. Coinbase Institutional said that means the market has not reached the kind of overextended state suggested by historical readings of the metric.
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