Recent on-chain data reveals a significant milestone for Dogecoin (DOGE), with 77.9% of its total supply now sitting in profit. This development comes as Bitcoin continues to dominate the profitability metrics across major cryptocurrencies, showing an impressive 98.4% of its supply in the green.
Breaking Down Crypto Supply Profitability Rankings
According to data from Santiment, the cryptocurrency market is experiencing a notable surge in profitability across multiple assets. Bitcoin’s recent consolidation at higher levels has pushed its supply in profit to near-total market saturation at 98.4%.
Here’s how the major cryptocurrencies currently rank in terms of supply profitability:
- Bitcoin (BTC): 98.4%
- XRP: 90%+
- Chainlink (LINK): 80.5%
- Dogecoin (DOGE): 77.9%
- Ethereum (ETH): 71.5%
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Market Implications and Analysis
The high percentage of supply in profit across these assets carries significant market implications:
- Bitcoin’s Dominance: BTC’s 98.4% profitability reflects its recent all-time high explorations and sustained bull run
- XRP’s Resilience: Despite limited recent growth, XRP maintains strong profitability metrics, suggesting stable holder behavior
- Dogecoin’s Position: At 77.9%, DOGE shows healthy profitability while maintaining potential upside room
Risk Factors and Future Outlook
While high profitability metrics generally indicate market strength, they also present potential risks:
- Increased sell pressure from profit-taking
- Higher volatility potential
- Possible market corrections
Frequently Asked Questions
What does supply in profit mean for crypto assets?
Supply in profit represents the percentage of circulating tokens currently worth more than their last transaction price, indicating holder profitability.
Why is Bitcoin’s supply in profit so high?
Bitcoin’s high profitability reflects its recent all-time highs and strong market performance, with nearly all holders currently in profit.
What does this mean for Dogecoin’s future price?
While 77.9% supply in profit suggests healthy market conditions, technical analysis indicates potential for further upside, with some analysts targeting $0.25.
As the crypto market continues to evolve, these profitability metrics provide valuable insights into holder behavior and potential market movements. Investors should monitor these indicators alongside other technical and fundamental factors for comprehensive market analysis.
