Large caps push back smaller altcoins in terms of profitability
The most profitable assets on the market contain coins with the largest number of wallets that remain in profit compared to their initially opened positions. While the profitability of the asset depends on its performance on the market, it also heavily depends on the average position price opened by traders.
According to IntoTheBlock data, Bitcoin, Ethereum, and Matic remain at the top of one of the most profitable assets in the cryptocurrency market. Bitcoin is 82% profitable, Ethereum 86% and Matic currently remains at 98% due to hitting its ATH just days before press time.
Large caps dominate market
Due to relatively stable and positive Bitcoin performance on the crypto market in 2021, the absolute majority of traders and investors are closing this year in profit. Bitcoin has retraced only by 26% from its ATH compared to smaller altcoins’ 50-60%.
Ethereum, on the other hand, showed even more impressive performance while losing only 16% from its most recent ATH in addition to showing more impressive performance during the year compared to BTC.
Smaller altcoins are losing positions
While smaller altcoins like Shiba Inu have shown impressive performance during the year, with more than 1000% growth in less than a month, almost half of the individuals holding those assets are either breaking even or are losing money.
Such a distribution is linked to the fact that the majority of the market has entered altcoins like Shiba Inu closer or all the way up, which puts them in an increasingly bad position. With Shiba Inu falling nearly 60% and other altcoins like LINK moving into the range, a large chunk of small-cap investors are ending the year at a loss.
