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Bitcoin Dominates With 86% Holders in Profit, Ethereum and Meme Coins Close Behind

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Thu, 20/06/2024 - 11:54
Bitcoin Dominates With 86% Holders in Profit, Ethereum and Meme Coins Close Behind
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In the ever-evolving world of cryptocurrencies, profitability remains a critical measure of success for both individual investors and the market as a whole. According to recent data from IntoTheBlock, Bitcoin (BTC) continues to dominate the market, with an impressive 86% of its holders currently in profit. This positions BTC as a leading asset, maintaining a significant lead over other coins in terms of profitability.

Ethereum (ETH), the second-largest coin by market capitalization, also showcases a strong performance, with 83.19% of its holders in profit. Ethereum's smart contract capabilities and its pivotal role in the DeFi (decentralized finance) ecosystem have significantly contributed to its success. Moreover, the potential introduction of an Ethereum spot ETF could catalyze further price appreciation.

Tron and meme coins gain traction

Tron (TRX) follows closely with 82.07% of its holders in profit, demonstrating the project's growing influence in the blockchain space. Tron's focus on decentralized applications (dApps) and its high transaction throughput has made it a popular choice among developers and investors alike.

Interestingly, meme coins are also making a significant impact on the profitability rankings. Pepe (PEPE) leads the meme coin pack with 80.57% of its holders in profit, followed by Floki (FLOKI) with 76.85%. Dogecoin (DOGE), the original meme coin, boasts a 74.99% profitability rate. These figures indicate that meme coins, often considered speculative investments, have generated substantial returns for their holders.

Emerging projects and their profitability

The data also highlights the performance of emerging projects like Ondo (ONDO) and JasmyCoin (JASMY), with 75.61% and 72.18% of their holders in profit, respectively. Ondo, focusing on DeFi and structured products, and JasmyCoin, targeting data democratization and IoT (Internet of Things), are gaining traction and delivering notable returns for their investors.

Maker (MKR) and Bitcoin Cash (BCH) round out the top profitable assets, with 75.45% and 72.54% of their holders in profit, respectively. Maker, the governance token for the MakerDAO and the Dai stablecoin system, has been a cornerstone of the DeFi ecosystem. Bitcoin Cash, a hard fork of Bitcoin, continues to attract a dedicated following due to its focus on peer-to-peer electronic cash transactions.

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