Top Caps' Supply in Profit are Painting Very Different Pictures From One Another

🤑 The percentage of supply in profit is calculated by comparing the acquisition price of each unit of #crypto against its current price, followed by determining what ratio of the supply is currently in profit.

Typically, when an asset is seeing a high ratio of supply in profit, it means that most holders bought the asset at lower prices. In #bullmarkets, like the one #cryptocurrency enjoyed from October, 2023 to March, 2024, these ratios can surge quite high, which often correlates with #overbought indicators.

Here are some of the supply in profit percentages for top cap #cryptocurrencies:

🪙#Bitcoin: 89.9%

🪙#Ethereum: 84.0%

🪙#XRPLedger: 77.0%

🪙#Cardano: 51.9%

🪙#Dogecoin: 76.7%

🪙#Chainlink: 78.2%

Keep an eye on some of these projects with lower-end supply in profits, as they can often indicate #undervaluation compared to the rest of the markets. This is an indicator best used with other metrics, such as whale accumulation and #MVRV.

Track how the percentage of supply in profit is fluctuating for top cap assets any time using this Santiment link here!