Following the recent rally of the broader crypto market, a large percentage of the circulating supply of most cryptocurrencies is currently in profit. Market intelligence platform Santiment has revealed that bitcoin (BTC) and ether (ETH) are the top dogs in terms of long-term investment profitability, surpassing assets like Chainlink (LINK), Dogecoin (DOGE), Ripple (XRP), and Cardano (ADA). Crypto Assets in Profit The percentage of a cryptocurrency’s supply in profit is calculated by summing the token’s current value and its worth when it first originated on the blockchain. For a deeper understanding, Santiment explained that a bitcoin mined and first introduced on the blockchain at ,000 would be profitable at the time of writing because BTC was trading at ,290 at
Topics:
Mandy Williams considers the following as important: AA News, Bitcoin (BTC) Price, Ethereum (ETH) Price
This could be interesting, too:
Wayne Jones writes Argentina’s Mining Sector Pioneers Lithium Tokenization by Tapping Cardano
Wayne Jones writes Chinese Auto Dealer Dives Into Bitcoin Mining With 6M Investment
Wayne Jones writes Nigeria Arrests 792 in Landmark Crypto-Romance Scam Raid
CryptoVizArt writes Ethereum Price Analysis: Following a 15% Weekly Crash, What’s Next for ETH?
Following the recent rally of the broader crypto market, a large percentage of the circulating supply of most cryptocurrencies is currently in profit.
Market intelligence platform Santiment has revealed that bitcoin (BTC) and ether (ETH) are the top dogs in terms of long-term investment profitability, surpassing assets like Chainlink (LINK), Dogecoin (DOGE), Ripple (XRP), and Cardano (ADA).
Crypto Assets in Profit
The percentage of a cryptocurrency’s supply in profit is calculated by summing the token’s current value and its worth when it first originated on the blockchain.
For a deeper understanding, Santiment explained that a bitcoin mined and first introduced on the blockchain at $60,000 would be profitable at the time of writing because BTC was trading at $71,290 at press time. Conversely, a coin mined at $73,000 would not be in profit because BTC is currently worth less than that amount.
Using the methodology, Santiment found that 98.3% of all circulating bitcoins are currently in profit, meaning 1.7% of the crypto asset’s supply is at a loss.
Following BTC is ETH, which has 95.1% of its circulating supply in profit. At the time of writing, data from CoinMarketCap shows ETH was changing hands at $3,811. LINK and Elon Musk’s favorite memecoin, DOGE, followed suit, with 86.8% and 82.2% of the circulating supplies in profits, respectively. The cryptocurrencies were worth $17.53 and $0.15, respectively, at the time of writing.
Ripple’s native token and ADA also have a substantial portion of their supply in the money. For the latter, approximately 78.8% of its circulating tokens are in profit, while the former has just over half of its supply (53.5%) in the green. At press time, CoinMarketCap data shows the duo trading at $0.52 and $0.48, respectively.
MATIC Sees Low Profitability
While BTC and ETH record massive growth and have substantial percentages of their circulating supply in profit, cryptocurrencies like Polygon’s MATIC are lagging. Santiment revealed that the portion of the digital asset in profit is a measly 35%, despite the level of development and number of users flocking to the network.
The on-chain intelligence platform said MATIC’s low investment profitability is likely linked to the cryptocurrency’s introduction to the market amid the 2019 bear cycle. Santiment noted that the launch time made the asset start with a bit of a handicap. At the time of writing, the token was worth $0.71, down 10% in the past year.