The cryptocurrency market is witnessing significant fluctuations in loss and profit levels for individual assets. Particularly, Dogecoin, Bitcoin, and XRP show different trends reflecting market sentiments among investors.
Dogecoin: Losses Significantly Outweigh Profits
Dogecoin has reported $132.2 million in losses over the past 24 hours, significantly outpacing its $5 million in profits. According to Glassnode, DOGE is the only top-10 asset experiencing such substantial losses compared to profits.
Diverse Market Sentiments Among Assets
In contrast, Bitcoin has shown a different dynamic, with $1.3 billion in profits against just $33 million in losses. This loss-to-profit ratio stands at 2.5%. XRP also exhibited strong results, recording $425.1 million in profits against only $3 million in losses, highlighting investor confidence.
Momentum Signals: SOPR and Cost Basis
Other currencies like Ethereum and TRON display variable results: Ethereum reported $35.2 million in profits and $18.4 million in losses, while TRON faced $87.3 million in losses versus $11.5 million in profits. Such data indicates heterogeneous market sentiments with varying trader activity.
The cryptocurrency market exhibits significant differences in losses and profits among various assets. While Dogecoin faces rising losses, Bitcoin and XRP continue to show solid results, indicating potential instability among investors.
