Despite recent price changes in cryptocurrencies, some assets show that a significant portion of their supply is still profitable. Analyzing the state of these assets can help understand current trends in the market.
Condition of Profitable Assets
According to Glassnode, despite recent downturns, some assets maintain a significant portion of profit. In particular, Ethereum and Solana have shown the steepest declines in unrealized profits among major assets, with many holders currently under water. For Dogecoin, the share of supply in profit was 50.8%, indicating that just over half of its supply remains above the purchase level.
Dogecoin Market
Dogecoin is currently trading around $0.15, marking a recovery from recent lows. In the last 24 hours, DOGE rose 6% to $0.154, partially offsetting losses. The metrics show that 50.8% of Dogecoin's supply remains in profit, which may indicate a neutral stance among investors with equal incentives to sell or hold assets.
Overall Crypto Market Situation
The crypto market as a whole shows signs of recovery after recent downward trends. Bitcoin has managed to regain its stance, rising close to $80,000 after falling below $75,000, which also contributed to the rise of Dogecoin and other digital currencies. Total liquidations in the crypto market on Monday reached nearly $1.4 billion, indicating active trader behavior.
Currently, the crypto market situation remains dynamic, with indicators suggesting a potential recovery. Investors are closely monitoring further market movements.
