On-chain data shows that Bitcoin and Dogecoin have managed to top the charts regarding holder profitability. Here’s what the ranking looks like.
Bitcoin & Dogecoin Are Among Coins With Highest Investor Profitability Ratio
In a new post on X, the market intelligence platform IntoTheBlock talked about how holder profitability compares between some of the top layer-1 networks in the sector.
Here, holder profitability refers to the total percentage of investors or addresses on a given cryptocurrency network that are currently carrying some net unrealized gains.
This metric works by going through the transaction history of each address on the blockchain to find the average price at which it acquired its coins. If this average cost basis for any holder is less than the current spot price of the asset, then the investor is assumed to be holding profits.
The indicator sums up all such addresses and finds what percentage of the total they make up for. Naturally, the investors
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