Profitability of lead cryptocurrencies Bitcoin and Ethereum remains higher than average
Recent data from InTheBlock suggests that more Bitcoin and Ethereum traders are making profits despite the cryptocurrency’s recent pullback. On-chain analytics show that 58.44% of addresses holding BTC and 69.25% of addresses holding ETH are in the money or profit.
The profitability of the lead cryptocurrencies, Bitcoin and Ethereum, remain higher than average despite being 42.81% and 40.75% down from their respective all-time highs.
According to data provided by IntoTheBlock regarding the composition of its holders, 58% of all funds invested in Bitcoin remain profitable even after its recent drop below $40,000, indicating that the majority of the market has entered the coin well. below $40,000. Additionally, 5% of all holders are currently breaking even while 37% are facing losses. As on-chain data previously suggested, 69.25% of Ethereum holders are in the money, suggesting that many have been buying below $3,000.
Likewise, 3% of all holders are currently breaking even as 28% are facing losses.
Bitcoin (BTC) traded earlier Monday at its lowest point in nearly six weeks as it fell to $38,202. Ethereum also fell to $2,797 on April 25.
As of press time, the largest cryptocurrency by market capitalization was down 0.05% in the past 24 hours, trading at $39,248. Ethereum was also trading slightly down at $2,902.
As reported by U.Today, plans are in place by mutual fund giant Fidelity Investments to allow customers to add Bitcoin to their 401(k) savings plans, according to recent reports.
Given that Fidelity is the country’s largest supplier of pension plans, the decision could be a watershed moment for cryptocurrency adoption in the United States. The Boston-based investing behemoth oversees more than 20 million people’s retirement funds.
Similarly, Anthony Scaramucci indicated that Skybridge will add Bitcoin to its 401(k) savings plans, following Fidelity’s lead.
