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A leading source of analytical insights into the cryptocurrency market, IntoTheBlockrecently published an exciting new report that gives insight into the level of profitability among holders of different cryptocurrencies.
Topping this list is Bitcoin, the largest cryptocurrency by market cap, with gains at 89.11% of its shares. This high number not only shows that Bitcoin is still strong, but also shows that interest in the cryptocurrency among investors is still there.
Ethereum is still a laggard, but it is far behind again as 83.19% of those who own it are showing gains, demonstrating the strength and future prospects of this leader in particular in altcoins. With the potential launch of an Ethereum ETF on the horizon, this can easily be expected to lead to more positive growth for Ethereum in the market.
The report also identified “memecoins,” which showed a particularly high percentage of holders in the funds, with Pepe and Dogecoin leading the field.
Memecoins and large cap stocks: a comparative analysis
According to IntoTheBlock, only a minority of Bitcoin and Ethereum holders have made gains, but everyone would still be in the black if they held these very valuable cryptocurrencies all the time; Obviously, popular coin communities are unique areas.
Although uncharacteristic and highly bullish in most cases, pure meme coins like Pepe (80.57% of holders profitable) and Dogecoin (74.99%) still manipulate investor interest and engagement significantly.
Some of this data suggests that these two sectors – large caps and meme coins – today account for the lion’s share of profitable cryptocurrency holdings. This may indicate that traditional heavyweight tokens still offer stability and growth, but new volatile tokens also offer much higher returns albeit with greater risk.
As shown in the accompanying chart from IntoTheBlock, this analysis is an important metric for investors looking to identify market sentiment and potential investment opportunities. Insight into which cryptocurrencies are seeing a high level of profitable HODLers recently, investors and traders can weigh the potential upside against their risk limits.
