Since June 26 this year, the price of most altcoins has been falling. As the third largest cryptocurrency on the market, the current price of XRP is even lower than during the bear market in January this year. According to the data from intotheblock.com, most of the holdings of the altcoin are at a loss.
The profit and loss indicator on the website is determined by comparing the average price of the asset bought in the address with the market price. If the current price of an asset is higher than the average price at the time of purchase of the asset in the address, it is considered a profit; otherwise, it is a loss. According to this parameter, more than 70% of Bitcoin and Bitcoin cash addresses are profitable based on the average purchase price.
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In other words, there are more than 19.96 million addresses that buy bitcoin when the price is below $9,453.76, and 6.33 million addresses are at a loss. In addition to Bitcoin and Bitcoin cash, other virtual assets also have statistics.
More than 80% of addresses in cryptocurrencies such as Ethereum, Cardano, Dash are currently at a loss.
As can be seen from the chart, 80% of the Ethereum addresses have suffered a certain loss, while for Cardano, this value is 81.79%.
In fact, such a large percentage of addresses are at a loss, which indicates that many users buy tokens after the bull market. However, the current mainstream currency is still sluggish, and the downward trend is not decreasing. The situation may be even more severe.