XRP, Solana Holders Deeper In The Red Compared To Bitcoin, Data shows
According to on-chain data from Glassnode, altcoins like XRP and Solana are experiencing significantly higher levels of investor losses relative to their market capitalizations compared to Bitcoin. The "Relative Unrealized Loss" metric, which calculates the total unrealized losses as a percentage of market cap, shows Bitcoin and Ethereum at 11.9% and 16.6%, respectively. In contrast, XRP and Solana are facing much steeper losses at 31.8% and 54.8%. This indicates that a larger portion of their supply is held by investors who bought near cycle highs. Despite the elevated loss levels, they remain below those seen during the 2022 bear market lows. At the time of writing, XRP is trading around $1.35, down 2% over the past week.
bitcoinist04/16 10:01