Sunday, July 21, 2024

Altcoin Rally Fuels Bitcoin, Ethereum and XRP to Record Profits.

Despite historically high-risk profit levels, the price of bitcoin managed to stay below $43,000, as observed on Santiment. The on-chain data intelligence tracker’s analysts observe that asset values are anticipated to rise further until the supply-in-profit level, which is now above 80%, drops below the 75% threshold.

The supply of XRP, Ethereum, and Bitcoin rises to all-time high profit levels.

Santiment research shows that the 83%, 84%, and 81% supply of Bitcoin, Ethereum, and XRP, respectively, is now profitable. As can be seen in the chart below, these figures place the three assets in the high-risk profitability zone. Over the last five years, the averages for the three assets have generally been between 55 and 75 percent.

Santiment analysts think there is potential for price increases for XRP, ETH, and BTC. Experts contend that, in the context of constructive development, these assets have the potential for long-term growth.

The acceptance of the Spot Bitcoin ETF, the announcement of ProShares’ registration for a leveraged ETF, and the rise in Ethereum’s price in comparison to Bitcoin have all increased trader excitement over the past two weeks. According to experts, there may be a long-term growth indication when the profit proportion of total supply falls below 75%.

Another element that may affect market mood and the profitability of the supply of BTC, ETH, and XRP is the speculation around the XRP ETF. As of this writing, ETH is trading at $2,511.71, XRP is trading at $0.5617, and the price of Bitcoin is $42,424.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular