According to data from on-chain, 80% percent of Pepe holders currently have a profit. Here’s how Dogecoin, Bitcoin, and other top coins compare.
PEPE Coin Has The Highest Ratio Of Profitability Right Now
The new post On X the market intelligence tool IntoTheBlock shared a chart showing how top cryptocurrencies are compared in regards to the percent of their holders who have a net. unrealized profit currently.
These percentages were calculated by the analytics company using data from on-chain. The transaction history for each network address can show at what price and number of coins they received.
The addresses and holders who have a cost base that is below the spot price will be in the black. These addresses would be included in the holders’ profit for the blockchain.
Here is a chart from IntoTheBlock that shows the current state of this metric for different assets within the industry:
Bitcoin (BTC), the second largest cryptocurrency by market cap, is also second on this list, with over 83% of the addresses in the green. Ethereum (ETH), which is the second-largest cryptocurrency in terms of market capital, also ranks second, with more than 83% addresses showing a profit.
The gap between these two isn’t much right now, and the analytics firm thinks the Ethereum spot exchange-traded funds (ETFs) The asset could reach new heights.
Tron, the third crypto on this list with an 82% return for investors is the most profitable. The rest of the list is made up by two memecoins, but Dogecoin does not make the cut.
Pepe (PEPE), and Floki, are the two memecoins that have been mentioned. They both hold around 80% of their holders above sea level. DOGE, which is ranked 75% on the list of memecoins, comes next.
IntoTheBlock points out that the data indicates that profits are currently skewed in favor of large-caps (and memecoins), with altcoins still waiting to make a breakthrough.
Now, what’s the significance behind holders in profit for any cryptocurrency? Investors who have made gains tend to be more inclined to sell. The probability that a mass selloff Increases as more holders profit.
Corrections are more likely to occur when the number of green addresses increases. According to this theory, top coins like Dogecoin and Pepe that have lower profits may still be able to grow before they hit a brick wall.
PEPE Price
Pepe currently trades at around $0.00001126, down over 8% from the previous seven days.
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Source: www.newsbtc.com