Network Profit/Loss Looking Safest it Has in a While for Major Assets
Network Realized Profit or Loss (NPL) calculates the overall ROI across all daily transactions for a crypto asset. Generally, spikes are what we look to avoid, as it implies increased chances of local tops and short-term price normalization.
So are we seeing major spikes to be worried about? Here's how NPL currently looks for some of crypto's biggest names:
Bitcoin hit its lowest NPL of the month yesterday, and is well below its 30d and 200d trendlines. A great sign that an imminent local top isn't approaching.
ETH is more neutral than BTC, sitting right between its 30d and 200d trendlines.
Chainlink is at a low for the month in NPL, and this coincides with a major address activity spike. Could be good here.
LTC's NPL is below the 30d and 200d trendlines and has been sitting encouragingly low for about 2 straight weeks now.