A leading source of analytical insights in the cryptocurrency market, IntoTheBlock, has recently released an intriguing new report providing a glimpse into the profitability various cryptos held by investors.
At the top of this chart is Bitcoin, the cryptocurrency by market cap, with 89.11% of its holders registering profits. substantial figure not only underscores Bitcoin’s continued strength but also indicates sustained investor interest in this digital currency.
Ethereum follows closely behind with 83.19 of its holders showing profits, underscoring the robust performance and future potential of this altcoin leader. The imminent launch of an Ethereum ETF has led to predictions that it could further propel growth for Ethereum in the market.
The report also sheds light on “memecoins,” revealing a notably high percentage of their holders profit, with Pepe and Dogecoin leading within this category.
This graphical representation showcases top cryptocurrency projects ranked by percentage of profitable holders:
– Bitcoin maintains dominance with over 86% of its holders registering profits.
– Ethereum trails closely behind it and exhibits performance. The impending introduction of an #EthereumETF might provide additional impetus…
Memecoins and Large-Caps: A Comparative Analysis
According to IntoTheBlock’s findings, only a minority among Bitcoin and Ethereum holders have realized gains however, they would still be profitable if they had continuously held these major cryptocurrencies. It evident that communities centered around popular meme coins are distinct entities.
Despite their atypical nature and bullish tendencies in most scenarios, pure memecoins like Pepe (with 80.57% profitable holders) and Dogecoin (with .99%) continue to wield substantial influence on investor interest and engagement.
These findings suggest that large cryptocurrencies as well as memecoins currently represent a significant portion of lucrative crypto holdings today. This suggests that traditional heavyweight tokens offer stability and growth while newer volatile tokens present higher returns but with increased risks.
As depicted in IntoTheBlock’s accompanying infographic displayed above from June 20th, 2024 from @intotheblock account on Twitter,this analysis serves as a crucial metric for investors seeking insight into market sentiment alongside potential investment prospects. By gaining an understanding about which cryptocurrencies are witnessing recent profitability among HODLers (a term used by crypto enthusiasts for long-term holding), investors can assess potential upsides against their own risk thresholds.
Tags:
BTCDOGE
