Latest data shows that the 7-day moving average (7DMA) of Ethereum (ETH) supply profitability percentage reached 85.66%, the lowest point since November 2023. Just three weeks ago, this metric was as high as 94%, but it has since significantly declined in tandem with ETH's price falling over 30%. Analysis indicates that this reflects the current ETH price may be below the cost baseline for most buyers this year. However, it is noteworthy that while this metric has hit a new low in 2024, it does not mean that all ETH holders have been in the red so far this year.