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Popular on-chain data aggregator Glassnode revealed that the original meme cryptocurrency, Dogecoin (DOGE), has suffered drastic losses over the past 24 hours, outperformed here by the two largest top cryptos, Bitcoin and Ethereum.
Bitcoin and Ethereum beat DOGE in losses
Glassnode has reported that over the past day, Dogecoin become the only top 10 asset that has shown higher realized losses than profits — $132 million of losses vs. $5 million profits.
Compared to DOGE, Bitcoin and Ethereum have displayed losses of just 2.5% and 52% of their profits — $33 million versus $1.3 billion for BTC and $18.4 million versus $35.2 million for ETH.
Unlike Bitcoin and Ethereum, Dogecoin can be vulnerable to meme-driven volatility and the absence of any serious fundamentals. BTC and ETH are showing much stronger market resilience, largely thanks to wider adoption, including institutional and spot ETFs, in particular.
Regular acquisitions of Bitcoin and Ethereum by ETFs and treasury companies confirm that.
Metaplanet buys 1,005 BTC
Today is Monday, and Bitcoin treasury company Metaplanet, with offices in Japan and the U.S., bragged about accumulating another large Bitcoin chunk — 1,005 BTC worth roughly $108.1 million. The average price for purchasing this BTC was $107,601 per coin.
Now, the company holds a cumulative 13,350 BTC bought for $1.31 billion and currently worth $1,440,015,105.
Metaplanet has now risen in the ratings to become one of the top five largest Bitcoin treasury companies. Strategy remains the number one corporate Bitcoin holder. It currently owns 592,345 BTC BTC worth $63,901,112. In a recently published X post, Saylor stated that since 2020, he has been “irresponsibly long Bitcoin” after he chose it over stocks, cash, equities and even gold to invest MicroStrategy’s cash reserve into.
Usually, every week on Mondays, Michael Saylor’s Strategy also announced a new BTC acquisition. It is usually preceded by an X post from Saylor on Sunday, hinting at an upcoming purchase. Metaplanet’s CEO is now copying this, also publishing a similar tweet on Sunday before breaking the news about adding more BTC to Metaplanet’s stash.
The recently founded Blockchain Group, based in Europe, has also accumulated 60 BTC for roughly 5.5 million EUR. Now they hold a total of 1,788 BTC with a Bitcoin yield of 1,270.7% year-to-date.
Vladislav Sopov
U.Today Editorial Team