Recent data from Glassnode provides a detailed analysis of bitcoin’s long-term holders (LTH) and their impact on the cryptocurrency market. In the latest onchain report, researchers highlight key metrics and behaviors of LTHs to understand supply and demand dynamics. Bitcoin Market Trends and Long-Term Holders Analyzed in the Latest Glassnode Report Glassnode’s analysis shows that […]
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PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC
On-chain data shows the memecoin Pepe currently has 80% of its holders in profit. Here’s how Dogecoin, Bitcoin, and other top coins compare.
PEPE Is Among The Coins With The Highest Profitability Ratio Right Now
In a new post on X, the market intelligence platform IntoTheBlock has shared a chart that shows how the various top cryptocurrencies compare against each other regarding the percentage of holders carrying a net unrealized profit currently.
The analytics firm has determined these percentages using on-chain data; the transaction history of each address on a given network can reveal at what price it received and how many coins it received, based on which an average cost basis can be calculated.
Naturally, the addresses or holders with this cost basis below the current spot price are in the green. They would contribute towards the holders in profit metric for the blockchain.
Now, here is the chart posted by IntoTheBlock, which shows how this metric is looking at the moment for various assets in the sector:
As is visible above, Bitcoin (BTC) currently has the highest profitability ratio among the top coins, with more than 89% of its holders carrying gains. Ethereum (ETH), the second largest cryptocurrency by market cap, is also second on this list, with over 83% of the addresses in the green.
The gap between these two isn’t much right now, and the analytics firm thinks the Ethereum spot exchange-traded funds (ETFs) could push the asset to reach new highs.
The third cryptocurrency on the list is Tron (TRX), with around 82% of investors in profit. Interestingly, two memecoins make up for the rest of the top 5, but none are Dogecoin (DOGE), the original and largest meme-based token.
The two memecoins in question are Pepe (PEPE) and Floki (FLOKI), with around 80% and 77% holders above water, respectively. DOGE is further down the list, with the metric at 75%.
IntoTheBlock notes that this indicator data implies profitability is currently skewed towards large-caps and memecoins, with other altcoins waiting for breakthroughs.
Now, what’s the significance behind holders in profit for any cryptocurrency? Generally, the investors holding gains are more likely to sell their coins. As such, the probability of a mass selloff increases as more holders come into profits.
Because of this, corrections can become more probable when the percentage of addresses in the green increases. In this view, the top coins with lower profitability, like Dogecoin or Pepe, may have more room to run before hitting a wall than an asset like Bitcoin.
PEPE Price
Pepe is trading around .00001126 at the time of writing, down more than 8% in the last seven days.
Bitcoin Price Surge To $71,000 Sends All Long-Term Holders Into Profit, What About Short-Term Holders?
Bitcoin long-term holders are back in profit following the flagship crypto’s recent price surge. However, the same can’t be said for most short-term holders yet, given the levels at which they purchased their Bitcoin holdings.
Only 0.03% Of Long-term Bitcoin Holder Supply In Loss
In a recent market report, on-chain analytics platform Glassnode claimed that the total volume of long-term holder (LTH) supply held in loss is “negligible,” with only 4,900 BTC (0.03% of LTH) acquired above Bitcoin’s current price. These long-term holders in loss are said to have been those who bought the 2021 cycle top and have held since then.
Long-term holders currently account for over 85% of the Bitcoin supply in profit. Glassnode noted that this was to be expected, given that the LTH supply in loss during the euphoric phase of the bull market “tends towards zero.” Therefore, this LTH will keep accounting for most of the supply in profit as the bull run progresses.
Tokens held for more than 155 days fall under this LTH supply, although most investors in this category are likely those who held with high conviction throughout the last bear market, even as Bitcoin dropped below ,000. Back then, this LTH supply accounted for most of the unrealized losses.
Short-Term Holder Supply Accounts For Most Unrealized Loss
Glassnode revealed that the short-term holder (STH) supply currently accounts for most of the market losses as these investors continue to buy the flagship crypto near local and global highs. As such, these holders automatically fall back into a loss whenever Bitcoin encounters a price correction.
Data from Glassnode shows that 1 million BTC (26.6%) out of the 3.35 million BTC representing the STH supply are currently at a loss. An overwhelming 56% (1.9 million BTC) of the STH supply is said to have moved into an unrealized loss when Bitcoin recently experienced a price drawdown to the ,000 level.
Glassnode also revealed that a “significant cluster” of STH coins was accumulated close to the current spot price. This is significant considering how investors who invested in this region could react to any volatile price fluctuations, irrespective of what direction they take. A significant drop or increase in Bitcoin’s price could lead these investors to offload their tokens.
Besides these short-term holders, Glassnode suggested that the ‘Single-Cycle holders’ are another group of investors to keep an eye on. These investors have been holding a “significant magnitude of unrealized profit” since Bitcoin broke above the ,000 range. They already took some profits when Bitcoin hit its current all-time high (ATH) of ,000 in March and will likely offload more of their tokens as Bitcoin reaches a new ATH.
FLOKI Token Reaches 417,400 Holders, Leading Memecoin on BNB Chain
The memecoin FLOKI recently crossed 417,400 holders on the BNB Chain, making it the biggest memecoin on that blockchain by market capitalization and number of holders. Recently, the Floki developers launched a new Telegram-based trading bot that allows holders to trade any token on the BNB Chain network, charging a 1% fee, with 50% of […]
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Thursday’s Top Performer: Notcoin (NOT) Surges 30%, Tops Shiba Inu And Pepe In On-Chain Holders
Notcoin (NOT), the play-to-earn token integrated into the Open Network (TON) ecosystem, has made significant waves in the market, becoming the top performer on Thursday.
With a surge of over 30% within the past 24 hours, Notcoin has secured the 82nd spot among the largest 100 cryptocurrencies, boasting a market capitalization of .25 billion.
Notcoin Attracts Millions With Tap-To-Earn Gameplay
Launched in 2023 by Open Builders, a team focused on developing social games, Notcoin gained popularity shortly after its release. The game’s gameplay, combined with the strategic use of Telegram’s vast user base, attracted millions of users.
Players engage in a Telegram-based Tap-to-Earn game, accumulating Notcoins by tapping on virtual coins. Completing quests, participating in leaderboards, and utilizing boosts enhance the earning potential, making Notcoin an accessible entry point for blockchain gaming newcomers.
Notcoin exemplifies a notable GameFi project, drawing over 35 million users through its engaging gameplay and viral growth. The game promotes social interaction by allowing players to form squads, invite friends, and engage in community-driven activities.
With a total supply of 102.7 billion NOT tokens, Notcoin’s allocation strategy prioritizes the community’s involvement. Approximately 78% of tokens, accounting for around 80.2 billion, are allocated to early miners and voucher holders, ensuring a significant portion remains with the community.
The remaining 22% is reserved for new users, traders, and future development phases, fostering a decentralized and community-driven ecosystem.
NOT Surges To New All-Time High
Notcoin experienced a decline in value down to .0045 on May 23 after a successful airdrop and listing on major exchanges like Binance. However, the token has since surged to .012 within the past 24 hours, reaching a new all-time high.
One of the key drivers behind this surge is the increase in on-chain holders, surpassing competitors such as Shiba Inu (SHIB), Bonk Inu (BONK), and Pepe Coin (PEPE). Notcoin boasts over 1.6 million holders, surpassing SHIB’s count of 1.4 million.
According to CoinGecko data, Notcoin has also witnessed a substantial increase in trading volume, with a 45% surge compared to the previous day, reaching .4 billion traded within 24 hours. Notably, it has become the 7th most traded asset on Binance, surpassing Solana (SOL), Dogecoin (DOGE), and XRP.
The introduction of passive earning missions in the Telegram Game has contributed to Notcoin’s recent surge in price, trading volume, and almost doubling of its market cap within a week.
As the market awaits further developments, it remains to be seen whether Notcoin’s recent achievements will lead to a continuation of the uptrend, potentially reaching higher levels.
The combination of increased on-chain holders, growing trading volume, and the introduction of new gameplay features positions Notcoin for continued growth and market recognition.
Featured image from Shutterstock, chart from TradingView.com
Long-Term Bitcoin Holders Resist Selling Amid Recent Highs — What This Signals
As Bitcoin flirts with its previous all-time highs, the celebrated ‘diamond hands’—a term in crypto parlance denoting long-term holders (LTHs)—are demonstrating notable restraint, selling their holdings at a rate notably lower than in previous bull markets.
According to a recent analysis by on-chain analytics firm Glassnode, despite the near ,000 valuation, the selling pressure from these seasoned investors remains subdued.
Bitcoin Diamond Hands Loyalty Amid Highs
The phenomenon of ‘diamond hands’ holding firm as Bitcoin reaches significant price levels is not new but remains a cornerstone of market stability.
These LTHs, defined by Glassnode as wallets holding Bitcoin for over 155 days, display investment maturity that underpins the market’s resilience.
Even with Bitcoin’s price hovering around ,722—down 3.5% over the past week but still up slightly by 0.6% in the last 24 hours—these investors are not rushing to cash out.
Additionally, Glassnode’s report highlights that long-term holders are yet to reach the point of selling that typically precedes a market downturn.
The market value to realized value (MVRV) ratio, a reliable metric to gauge the profitability of long-held Bitcoins, indicates that many LTHs are sitting on substantial unrealized profits. Historically, LTHs begin to sell once this ratio hits particular highs, which has not yet occurred despite the recent peak.
Interestingly, during the surge to ,800 in March—the latest all-time high—long-term holders were not the primary sellers. Glassnode pointed out that only a modest 519k BTC was sold by LTHs during this period, considerably less than in previous bull runs, where monthly sales approached nearly one million BTC.
Of this, 519k BTC sold, “20% originated from Grayscale ETF holders,” as reported by Glassnode. This restrained selling behavior is significant, suggesting a strategic approach to holding and a belief in further price appreciation.
The Future Holds Optimism
Moving forward, Glassnode anticipates that LTHs will continue to play a pivotal role in the market dynamics. Their recent behavior indicates a shift towards re-accumulation following significant distribution around the k all-time high.
Such patterns underscore a sophisticated strategy: Bitcoin’s most steadfast supporters may be gearing up for another run, anticipating higher peaks beyond current levels.
Amid these developments, crypto analyst Cryptorphic has forecasted Bitcoin reaching as high as 6,000 by May 2025, adding to the sentiment around Bitcoin, which remains interestingly bullish.
#Bitcoin could hit 6,000 by May 27 2025!
These green boxes represent the price action after #BTC halvings. We’ve never seen a red year after a halving.
Bitcoin halvings are significant events, here are the percentages of Bitcoin’s price increase one year after each halving… pic.twitter.com/QEmNN8OuP2— Cryptorphic (@Cryptorphic1) May 27, 2024
Featured image created with DALL·E, Chart from TradingView
Apu Memecoin Soars, Reaching 11,600 Token Holders with Strong Community Support
PRESS RELEASE. Apu Apustaja, a new memecoin making waves in the industry, has announced impressive support from its rapidly growing community, including over 11,650 coin holders and more than 13,000 Telegram channel members. Leading a revolution in the sector, which sees frog memecoins replacing dog-themed coins. Behind its sudden surge in popularity are a highly […]
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XRP Holders In Panic Selling Frenzy? Sub-$0.50 Looms
The price of XRP, the native token of Ripple, seems to be teetering on the edge of a short-term decline, according to an analysis of on-chain data by NewsBTC. While bulls might want to hold their horses, the report paints a picture of a market potentially succumbing to selling pressure in the immediate future.
Whales Shedding Weight: A Bearish Signal?
The report raises a red flag with the movement of XRP in large wallets. Investors holding between 100,000 and 1 million XRP have been noticeably reducing their holdings. This suggests a potential increase in sell pressure, as these “whales” unload their tokens onto the market.
The combined holdings of this group now represent a smaller percentage of the total circulating supply, which could lead to a temporary glut of XRP and a corresponding price drop.
The behavior of these large XRP holders could indicate a shift in market sentiment, prompting concerns about the future stability of XRP prices. As these whales liquidate their positions, the market could face increased volatility, with prices reacting sharply to the influx of sell orders.
Additionally, the reduction in whale holdings might signal a lack of confidence in XRP’s short-term prospects, potentially discouraging smaller investors from maintaining or increasing their positions.
The price of XRP managed to shift from .48 to .52 in a few days last week. The token has been wiping out some of those gains, though. The token’s price may drop below .50 because to the decrease in balances. The effect was already in action because the token’s value was .51 at the time of publication.
OI And Active Addresses: Not Shining A Bullish Light
Further dampening the enthusiasm for XRP is the Open Interest (OI) metric. OI refers to the total value of all open positions in XRP futures contracts. A decrease in OI, as observed recently, signifies a decline in market activity and potentially more sellers closing their positions.
This trend aligns with the dwindling number of active addresses on the XRP network. Active addresses represent the unique number of wallets involved in XRP transfers within a specific timeframe. A recent drop in active addresses suggests a decrease in overall market participation, which can often precede a price slump.
Volatility: A Double-Edged Sword
A silver lining some might see is the recent spike in XRP’s one-day volatility. Volatility can be a double-edged sword, however. While it can indicate heightened market activity and potentially lead to price surges, the current situation seems to be leaning towards the opposite.
The rise in volatility, coupled with the selling pressure and declining participation, might simply reinforce a downtrend rather than spark a price increase.
Featured image from CoinCodex, chart from TradingView
XRP Holders In Panic Selling Frenzy? Sub-$0.50 Looms
The price of XRP, the native token of Ripple, seems to be teetering on the edge of a short-term decline, according to an analysis of on-chain data by NewsBTC. While bulls might want to hold their horses, the report paints a picture of a market potentially succumbing to selling pressure in the immediate future.
RR
Whales Shedding Weight: A Bearish Signal?
The report raises a red flag with the movement of XRP in large wallets. Investors holding between 100,000 and 1 million XRP have been noticeably reducing their holdings. This suggests a potential increase in sell pressure, as these “whales” unload their tokens onto the market.
The combined holdings of this group now represent a smaller percentage of the total circulating supply, which could lead to a temporary glut of XRP and a corresponding price drop.
The behavior of these large XRP holders could indicate a shift in market sentiment, prompting concerns about the future stability of XRP prices. As these whales liquidate their positions, the market could face increased volatility, with prices reacting sharply to the influx of sell orders.
Additionally, the reduction in whale holdings might signal a lack of confidence in XRP’s short-term prospects, potentially discouraging smaller investors from maintaining or increasing their positions.
Open Interest and Active Addresses: Not Shining a Bullish Light
Further dampening the enthusiasm for XRP is the Open Interest (OI) metric. OI refers to the total value of all open positions in XRP futures contracts. A decrease in OI, as observed recently, signifies a decline in market activity and potentially more sellers closing their positions.
CC
This trend aligns with the dwindling number of active addresses on the XRP network. Active addresses represent the unique number of wallets involved in XRP transfers within a specific timeframe. A recent drop in active addresses suggests a decrease in overall market participation, which can often precede a price slump.
RR
Volatility: A Double-Edged Sword
A silver lining some might see is the recent spike in XRP’s one-day volatility. Volatility can be a double-edged sword, however. While it can indicate heightened market activity and potentially lead to price surges, the current situation seems to be leaning towards the opposite.
The rise in volatility, coupled with the selling pressure and declining participation, might simply reinforce a downtrend rather than spark a price increase.
Blackrock Bitcoin ETF Attracts 414 Institutional Holders — Analyst Says IBIT ‘Blows Away Record’
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional […]
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