IntoTheBlock Data Shows 90% of Altcoin Holders in Unprecedented Losses While DeFi Tokens Hold Up Better

Data shows principal DeFi tokens have held up better than altcoins in the bear market, with MKR seeing the most significant price growth.

The reputable crypto market intelligence firm IntoTheBlock recently weighed in on the state of the digital asset market. Its comment comes amid the ravaging bear trend in the past week.

In a tweet, IntoTheBlock highlighted that more than 90% of altcoin holders are in unprecedented losses. However, amid the negative turnouts, it revealed that principal decentralized finance (DeFi) coins were holding up much better. 

The principal DeFi tokens refer to Compound (COMP), 0x Protocol (ZRX), Uniswap (UNI), AAVE, and Maker (MKR).

While many altcoins are experiencing unprecedented losses, with over 90% of holders incurring losses, principal DeFi tokens are showing some resilience.

An examination of the profit and loss profiles of holders over the past year reveals that most are in a similar position… pic.twitter.com/miXAX5YdLX

— IntoTheBlock (@intotheblock) August 24, 2023

Holders Profit and Loss Analysis

After examining holders’ profit and loss profiles over the past year, IntoTheBlock came to a noteworthy conclusion. It argued that most of the holders of the five tokens remained much the same throughout the year. 

In particular, the firm mentioned that the investors maintained a similar profitable position as last year. Meanwhile, it said the holder’s profitability margin has seen noticeable changes due to volatility. 

Regardless, IntoTheBlock argued the principal tokens boast an overall favorable profit-to-loss ratio compared to other altcoins.

Among the five DeFi leaders, Maker stood out. IntoTheBlock’s data revealed that Maker was the only token whose investors experienced the least change in profitability. Specifically, it identified MKR as the most profitable asset for holders for most of the year.

According to the graphics accompanying the tweet, only 52.36% of MKR holders are at a loss. Likewise, UNI and AAVE investors in losses represent 71.93% and 76.35% of holders.

On the other hand, COMP has the largest pool of holders shouldering losses. In particular, 92.92% of COMP investors are out of money.

Price Performance of the Five

Notably, while UNI trades at $4.69, data shows the coin was worth $5.2462 early this year. Meanwhile, all other principal DeFi tokens saw positive growth in eight months. MRK token saw the most significant price increase since January. 

Specifically, MKR has grown 106% from $513 to $1,061. Also, COMP grew  38% from $31 to $43. ZRX and AAVE saw 15 and 10% growth.