Invest Now in the Top 3 Altcoins Projected to Yield 85% Profitability by 2024, Enhance Your Portfolio!
Bitcoin’s price has seen a notable increase of 3.5% to reach $46,254.46, indicating a potential shift in market sentiment. Alongside Bitcoin, Tron and Immutable have also shown profitability, with Tron boasting a 97.51% profitability rate and Immutable at 85.58%. In addition, stablecoins are making a comeback, as Tether’s USDT has reached an all-time high market cap of $89 billion.
The year 2024 has started on a high note for cryptocurrencies, particularly those associated with Bitcoin’s ETF gains. The crypto market is displaying signs of a sustained recovery, with Bitcoin leading the charge. Its price surge of 3.5% to $46,254.46 is the highest it has been in weeks. This recent uptick adds to Bitcoin’s growth streak of 7.18% over the past week, indicating a potential change in market sentiment.
This surge has prompted many traders to reevaluate their portfolios and show a growing interest in lesser-known coins. After analyzing the top five tokens based on market capitalization, three assets have stood out with profitability rates exceeding 85%.
A closer look at the winners reveals that Bitcoin has a profitability rate of 90.66%, with approximately 47.06 million addresses currently in profit. None of the BTC addresses are currently experiencing losses, but around 4.85 million addresses (9.35%) are at the break-even point.
Tron, often overlooked, has significantly increased its profitability to 97.51%, with over 113.48 million addresses currently profitable. While not a major gainer, Tron’s strong performance indicates investor interest, as only a small percentage of addresses are facing losses.
Recent data from Glassnode also highlights a positive trend in the stablecoin market, with Tether’s USDT achieving an all-time high market cap of $89 billion. The combined market capitalization of major stablecoins has risen by nearly $5 billion in the past month, reaching $124 billion.
Additionally, Immutable has a considerable number of profitable addresses, with over 55.5 million or 85.58%. While not as profitable as Bitcoin and Tron, Immutable’s stability in the market is noteworthy. There are also 8,490 addresses (13.07%) that have experienced losses, and 876 addresses (1.35%) that are hovering around the break-even point, leaving room for more speculation in the coming weeks.
Address profitability is a crucial metric for assessing the health of cryptocurrency assets. Currently, Bitcoin, Tron, and Immutable are leading the pack as the most profitable chains. However, the market is dynamic, and these figures may change. Nonetheless, the shift towards profitability suggests increased investor activity and hints at the potential for a fresh rally in the cryptocurrency market.
After reading this, which altcoin are you most bullish on?
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Altcoins
Bitcoin