Data from the prominent analytic platform Santiment has shown that at least 79.9% of all XRP tokens are being held at a profit.
In a recent update on X, crypto market intelligence platform Santiment disclosed the profitability ratio of the entire circulating supplies of the most prominent digital assets.
In particular, the update captured the profit percentages for Bitcoin (BTC), Ethereum (ETH), and XRP tokens in circulation.
Santiment first highlighted the current cheerful state of the crypto market, wherein multiple assets have recorded substantial gains in recent days, unlike the past weeks of subdued performances.
? #Bitcoin is making an end-of-week push toward $50K with just 10 weeks until the #halving. 90.5% of $BTC coins are now in profit compared to the time of their first existence. For comparison, 84.7% of $ETH coins and 79.9% of $XRP coins are in profit. https://t.co/9t046gP3z0 pic.twitter.com/PMZMALH646
— Santiment (@santimentfeed) February 9, 2024
The analytics platform pointed out that Bitcoin is notably spearheading the charge by aiming for a push towards $50,000 by the end of the week.
Besides, Santiment stressed that the ongoing trend comes just at a time when the next Bitcoin halving is only ten weeks away.
Significantly, Bitcoin trades at $47,356, reaching a peak of $48,099 in the past 24 hours. Notably, the asset changed hands at around $42,000 just three days ago.
On this premise, Santiment disclosed that 90.47% of the total supply of BTC tokens is now in profit compared to the time of their purchase.Â
79.9% of XRP in Profit
Furthermore, Santiment drew similarities with competing projects such as ETH and XRP. The platform noted that 84.7% of ETH tokens and 79.9% of XRP assets are in a profitable position.
These percentages imply that the current market values of XRP at $0.5257 and ETH at $2,506 exceed the prices at which holders initially acquired these tokens.
In simpler terms, most of the supplies of XRP and ETH have increased in value from when the investors holding them initially purchased them.
Notably, the chart accompanying Santiment’s update indicated that the profitability trend in Bitcoin and Ethereum closely mirrored each other over the past year, displaying comparable highs and lows.
However, XRP’s current profitability score of 79.9% is notably lower than the trend observed between July and August 2023. During this period, XRP reached significant highs in the $0.8 region.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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