A recent report by on-chain data aggregator Glassnode reveals that XRP and Tron (TRX) have outperformed other major cryptocurrencies in terms of supply profitability. The report analyzes the percentage of cryptocurrency holdings in profit year-to-date, taking into account price differences between purchase and current market value. 🤯
Despite recent market fluctuations, assets like XRP and TRX boast over 80% of their supply currently in profit. Glassnode’s chart shows that while Ethereum and Solana show profitability rates around 45% and 32%, respectively, XRP and TRX demonstrate significant resilience in the current market.
The report further highlights that these two coins have exhibited exceptional strength amidst market volatility. Interestingly, a large-scale XRP transfer to Binance by an anonymous wallet sparked debate amongst XRP enthusiasts regarding whether it was a sale or internal transaction by Binance. 🕵️♂️ Similar to this, Whale Alert also observed a 300 million Dogecoin deposit to Binance, again from an anonymous wallet.
The analysis provides valuable insights into the current market dynamics and highlights the resilience of some cryptocurrencies in the face of uncertainty.
Source: U.Today