On-chain data shows Dogecoin and XRP have recently been seeing the sharpest decreases in Supply in Profit out of the major cryptocurrencies. Dogecoin & XRP Have Seen A Notable Drop In Profitability During Last 30 Days In a new post on X, the on-chain analytics firm Glassnode has discussed about the latest trend in the Supply in Profit for the major assets in the cryptocurrency sector. Related Reading: Bitcoin Fear & Greed Index Approaches Neutral As BTC Recovers To $85,000 The “Supply in Profit” here is an indicator that keeps track of the percentage of the total circulating supply of a given digital asset that’s being held at some net unrealized profit. The metric works by going through the transaction history of each coin on the network to see what price it was last moved at. If this previous transfer value of any token was less than the current spot price, then that particular coin is assumed to be sitting on a profit right now. The Supply in Profit adds up all coins of this type and de ..
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