Because of the kinds of assets they have gambled on this year, some traders’ forecasts may not appear to be very optimistic. Examining the price movements of the top five tokens by market capitalization reveals that three unique assets stand out because the percentage of lucrative addresses in each network that are above 85%.
Among these assets are Immutable (IMX), Tron (TRX), and Bitcoin (BTC).
BTC, TRX and IMX data insights
Based on information from IntoTheBlock, the profitability of Bitcoin is estimated to be 90.66% at this time, with 47.06 million addresses at the money. Even while the data indicates that there are now no BTC addresses losing money, 4.85 million addresses, or 9.35% of all addresses, are “at the money,” or at the break-even mark.
One may argue that the spot Bitcoin ETF products helped bring Bitcoin’s profitability back to life.
Tron is possibly one of the most underappreciated of all the top-ranked cryptocurrencies, even with its significant industry impact. The digital currency’s profitability has increased to 97.51%, or 113.48 million addresses, according to statistics from IntoTheBlock. However, 1.45 million addresses—or 1.25% of all addresses—are either bankrupt or in the red, and another 1.45 million addresses—or 1.24% of all addresses—are losing money.
Though it isn’t as profitable as Tron or Bitcoin, Immutable nevertheless brags of enormous profitability. Currently, 85.58% of all addresses, or more than 55,500,00, are lucrative. Based on this, addresses that are losing total 8,490, or 13.07%, whereas addresses that are in the money or break-even point are 876, or 1.35%.
Profitability, good measure of health
Growth trackers still rely heavily on address profitability to determine whether assets are robust and to what extent. Avalanche (AVAX) originally had a profitability score of less than 40%, but there has been a notable reversal.
Although Tron, Immutable, and Bitcoin continue to be the three most profitable networks, this number is quite erratic and might alter in the future.
