Some traders’ expectations may not be promising so far this year due to the types of assets they have placed their bets on. Taking an in-depth look at the price performance of the top five tokens by market cap, three distinct assets stand out as the total profitable addresses within their respective networks is over 85%.
These assets include Bitcoin (BTC), Tron (TRX), and Immutable (IMX).
Insights into BTC, TRX and IMX data
According to data from IntoTheBlock, Bitcoin’s current profitability is set at 90.66% with a total of 47.06 million addresses currently in the money. While the data suggests that no BTC addresses are losing money at the moment, it notes that a total of 4.85 million addresses, or 9.35%, are at the break-even point, or “in the money.”
Spot Bitcoin ETF products have likely contributed to the revival of BTC profitability.
Despite its fundamental importance to the industry, Tron is undoubtedly one of the most undervalued cryptocurrencies. According to data from IntoTheBlock, the digital currency increased its profitability to 97.51%, or 113.48 million addresses. On the contrary, a total of 1.45 million addresses, or 1.25% of the total addresses, are out of money or at a loss, while another 1.45 million addresses, or 1.24% of the addresses, are at a loss.
Immutable also boasts massive profitability, albeit lower than that of Bitcoin and Tron. More than 55,500,00 addresses are currently profitable, or 85.58% of all addresses. Based on this, the addresses at a loss amount to 8,490, equal to 13.07%, while those in money or break-even amount to a total of 876, equal to 1.35%.
Profitability, good measure of health
Addressing profitability remains a crucial way for growth indicators to know which asset is healthy and to what extent. While there has been a significant turnaround, Avalanche (AVAX) once posted a profitability score below 40% last year.
While the trio of Bitcoin, Tron and Immutable represent the dominant profitable chains, this figure is largely unstable and could change in the future.
