3 Cryptocurrencies With Address Profitability Above 85%

Fri, 9/02/2024 – 16:40

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The expectations of some traders may not be looking promising thus far this year because of the types of assets they placed their bets on. Taking a deep look at the price trends of the top five tokens by market capitalization, three distinct assets stand out as the total addresses within their respective networks that are profitable are above 85%.

Advertisement

These assets include Bitcoin (BTC), Tron (TRX) and Immutable (IMX).

BTC, TRX and IMX data insights

Per data from IntoTheBlock, Bitcoin’s current profitability is pegged at 90.66% with a total of 47.06 million addresses currently at the money. While the data suggests that no BTC address is in losses at the moment, it noted that a total of 4.85 million addresses, or 9.35%, are at the break-even point, or “at the money.”

The spot Bitcoin ETF products arguably contributed to the reboot in the profitability of BTC.

Despite its key relevance to the industry, Tron is arguably one of the most underrated of all the top-ranked cryptocurrencies. Per IntoTheBlock’s data, the digital currency has grown its profitability to 97.51%, or 113.48 million addresses. By contrast, a total of 1.45 million addresses, or 1.25% of all addresses, are out of money or in loss, while another 1.45 million addresses, or 1.24% of addresses, are in loss.

Immutable also boasts of a massive profitability, albeit lower than that of Bitcoin and Tron. More than 55,500,00 addresses, or 85.58% of all addresses, are profitable at the moment. Drawing on this, addresses in loss come in at 8,490, or 13.07%, while those at the money or break-even points amount to a total of 876, or 1.35%.

Profitability, good measure of health

Address profitability remains a crucial way for growth trackers to know which asset is healthy and to what degree. Although there has been a significant turnaround, Avalanche (AVAX) once recorded a profitability score below 40% sometime last year.

While the trio of Bitcoin, Tron and Immutable stand as the dominant profitable chains, this figure is largely unstable and may change in the future.

SOURCE

Leave a Comment

. . . . .

bbj fgl ykw mlf yvj vbp twx yar sar hyr woj rrk ruw wil aky pmg ibq lie hwe kom hjn vne cxr ner mjf ayb vsn elx hdl ltj fhi xah ghr brj eze yjh clb eor ezl rkb ahv