Discover the Top 3 Altcoins to Enhance Your Portfolio, Boasting an Impressive 85% Profitability
Cryptocurrencies have had a strong start to 2024, particularly those that are closely correlated to Bitcoin’s ETF gains. The crypto market is showing signs of a sustained recovery, with Bitcoin leading the way. Bitcoin’s price has surged by 3.5% to $46,254.46, reaching its highest level in weeks. This upward trend has continued for the past week, with Bitcoin’s growth reaching 7.18%, indicating a potential shift in market sentiment.
However, this surge has prompted many traders to reevaluate their portfolios, with a growing interest in lesser-known coins. After analyzing the price trends of the top five tokens by market capitalization, three assets stand out with profitable addresses exceeding 85%.
According to data from IntoTheBlock, Bitcoin currently boasts a profitability rate of 90.66%, with approximately 47.06 million addresses currently in profit. There are no Bitcoin addresses incurring losses at the moment, but around 4.85 million addresses (9.35%) are at the break-even point.
Tron, often overlooked in the crypto sphere, has significantly increased its profitability to 97.51%, with over 113.48 million addresses currently profitable. Although Tron is not a major gainer, its strong performance demonstrates investor interest. Only a small percentage of addresses are experiencing losses.
On the other hand, recent data from Glassnode reveals a revitalizing 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 surged by nearly $5 billion in the past month, reaching $124 billion.
Similarly, Immutable also has a significant number of profitable addresses—over 55.5 million or 85.58% of them. Although it is not as profitable as Bitcoin and Tron, Immutable’s ability to maintain stability in the market is a positive sign. Additionally, 8,490 addresses (13.07%) have experienced losses, and 876 addresses (1.35%) are hovering around the break-even point, leaving room for further speculation in the coming weeks.
The profitability of addresses is a crucial metric for assessing the health of cryptocurrency assets. While Bitcoin, Tron, and Immutable currently lead as the most profitable chains, the market remains dynamic, and these figures may change. However, this shift towards profitability suggests that investors are entering the market, and a fresh rally may be on the horizon.