ALTCOINS MAY STILL HAVE A LOT OF ROOM TO RUN
Glassnode data shows the median altcoin has less than 25% of its supply currently in profit, meaning most holders are still underwater.
That’s notable because major market tops typically happen after a much broader portion of coin supply moves deep into profit.
So despite the recent strength across parts of the altcoin market, the data doesn’t look like the kind of widespread euphoria usually associated with a cycle peak.
Most altcoin holders aren’t even in profit yet. If that changes, the market could look very different. $ZEC
$ETH
Glassnode data shows the median altcoin has less than 25% of its supply currently in profit, meaning most holders are still underwater.
That’s notable because major market tops typically happen after a much broader portion of coin supply moves deep into profit.
So despite the recent strength across parts of the altcoin market, the data doesn’t look like the kind of widespread euphoria usually associated with a cycle peak.
Most altcoin holders aren’t even in profit yet. If that changes, the market could look very different. $ZEC
$ETH
