Ethereum addresses in loss just reached a 2-year low of 6,328,208, according to data from Glassnode.

The milestone comes as Ethereum prices have continued to surge. At the time of writing Ethereum is trading hands at $604 and is up 5.94%. The new price level shows Ether has quadrupled in value over this year.

The price surge comes as Ethereum is reaching to hit the deposit minimum in Ethereum 2.0's manniet contract which would enable the network upgrade. Ethereum 2.0 most notably will mark the network's transition from proof-of-work to proof-of-stake.

By Emily Mason