- Santiment confirmed that a 98% supply of Bitcoin is currently in profit.
- ADA and MATIC have 53.5% and 35% of the supply in profit, respectively.
- Ethereum (ETH) ranked second with 95% of supply in profit.
Blockchain analytics firm Santiment reported on X that nearly 98% of Bitcoin’s (BTC) total supply is currently profitable, marking substantial gains for investors since the cryptocurrency’s inception.
To clarify its methodology for readers unfamiliar with blockchain data analysis, Santiment explained:
“Think of it this way – If a BTC coin was mined and first introduced at $60K, it is considered in profit since BTC is currently valued at $70.8K. If a BTC coin was mined at $73K, then it is not. We calculate this for each coin to find the total % that are in profit vs. not in profit.”
Ethereum (ETH) follows closely behind with 95.1% of its supply in profit, along with 86.8% of Chainlink’s (LINK). Additionally, 82.2% of Dogecoin’s (DOGE) supply and 78.8% of XRP’s supply have also experienced appreciation over time.
Cardano (ADA) holds the lowest ranking among these digital assets, with 53.5% of its supply currently profitable. Polygon (MATIC) fares even worse, with only 35% of its supply in profit. Santiment attributes this to MATIC’s introduction during the 2019 bear market, terming the period of MATIC’s launch as its “handicap.”
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
