• Latest
  • Trending
  • All
Bitcoin Jump Above $25k Sends 2.7M More Coins Into Profits

Bitcoin Jump Above $25k Sends 2.7M More Coins Into Profits

March 15, 2023
Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

March 25, 2023
Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

March 25, 2023
ETH extends its price consolidation, where can investors seek gains

ETH extends its price consolidation, where can investors seek gains

March 25, 2023
Litecoin Whales Begin Accumulating, Can Price Reclaim $100?

Litecoin Whales Begin Accumulating, Can Price Reclaim $100?

March 25, 2023
DeepOnion (ONION) has a Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

DeepOnion (ONION) has a Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Saturday: What’s Next?

March 25, 2023
Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

March 25, 2023
M1, a personal finance management company, will soon offer crypto portfolios to its investors

M1, a personal finance management company, will soon offer crypto portfolios to its investors

March 25, 2023
Epic CEO Says Apple Could Try to ‘Crush the Metaverse’

Epic CEO Says Apple Could Try to ‘Crush the Metaverse’

March 25, 2023
Google Will Crush Microsoft and OpenAI, Argues Founder

Google Will Crush Microsoft and OpenAI, Argues Founder

March 25, 2023
Congressman Says TikTok Ban Won’t Ensure Americans’ Data Safety

Congressman Says TikTok Ban Won’t Ensure Americans’ Data Safety

March 25, 2023
Script Writing and 5 Other Ways You Can Make Money Using GPT-4

Script Writing and 5 Other Ways You Can Make Money Using GPT-4

March 25, 2023
Chatbot Rejects Erotic Roleplay, Users Directed to Suicide Hotline Instead

Chatbot Rejects Erotic Roleplay, Users Directed to Suicide Hotline Instead

March 25, 2023
Saturday, March 25, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Bitcoin

Bitcoin Jump Above $25k Sends 2.7M More Coins Into Profits

by Cuevas Antonio
March 15, 2023
in Bitcoin
0
Bitcoin Jump Above $25k Sends 2.7M More Coins Into Profits
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


On-chain data shows around 2.7 million more coins have entered a state of profit following Bitcoin’s jump above the $25,000 level.

65% Of The Adjusted Bitcoin Supply Is Now In The Green

According to data from the on-chain analytics firm Glassnode, an additional 20% of the adjusted supply is now enjoying profits. The relevant indicator here is the “percent supply in profit.” As its name already implies, it measures the percentage of the total circulating Bitcoin supply currently holding unrealized gains.

The metric works by going through the on-chain history of each coin in the circulating supply to check what price it was last moved at. If this previous value for any coin was less than the latest Bitcoin price, then that coin is counted under the supply in profit.

There is a problem with this indicator, however, and it’s that a large amount of dormant supply has been lost because the wallets that store said coins are no longer accessible.

This old supply was last moved at very low prices compared to the BTC value today, so it’s technically holding massive unrealized profit. But as these coins are lost, they are essentially out of the circulating supply and should thus not influence the current market.

Because of this reason, the supply in profit indicator can gradually become inaccurate compared to the actual picture. To mitigate this issue, Glassnode has come up with the “adjusted percent supply in profit” metric, a modified version of the original indicator that filters out the data of all coins older than 7 years.

Now, here is a chart that shows how the value of this Bitcoin indicator has changed during the past week:

Bitcoin Supply In Profit

Looks like the value of the metric has observed some rise in recent days | Source: Glassnode on Twitter

As displayed in the above graph, the Bitcoin adjusted percent supply in profit was around a value of 45% just a few days ago when the price was floating around the $20,000 level. This means that 45% of the supply younger than 7 years had some gains at that point.

Since then, BTC has enjoyed some sharp upwards momentum and has even broken above the $26,000 mark briefly before seeing a pullback to the current $25,000 level.

As a result of this rapid growth, the adjusted supply in profit has also seen a big jump to about 65%, meaning that 20% of the adjusted supply or 2.7 million coins have entered into a state of profit now.

A natural implication is that investors acquired 20% of the adjusted supply at prices in the $20,000 to $26,000 range.

BTC Price

At the time of writing, Bitcoin is trading around $25,100, up 13% in the past week.

The price of the asset seems to have seen some pullback since the high earlier today | Source: BTCUSD on TradingView

Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com





Source link

Tags: 2.7M25kBitcoinCoinsJumpProfitsSends
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 19, 2023
ChatGPT is Being Used to Make ‘Quality Scams’

ChatGPT is Being Used to Make ‘Quality Scams’

March 20, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

March 25, 2023
Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

March 25, 2023
ETH extends its price consolidation, where can investors seek gains

ETH extends its price consolidation, where can investors seek gains

March 25, 2023

Recent News

Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?

March 25, 2023
Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears

March 25, 2023

Categories

  • Altcoin
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Education
  • Ethereum
  • Featured
  • Litecoin
  • Market
  • News
  • Uncategorized

Follow Us

Recommended

  • Bitcoin Price Prediction As $20 Billion Trading Volume Comes In – Where Is BTC Heading This Weekend?
  • Nvidia, Tesla, Block And A Massive Vulnerability Found In Dogecoin’s Code: Benzinga Bulls And Bears
  • ETH extends its price consolidation, where can investors seek gains
  • Litecoin Whales Begin Accumulating, Can Price Reclaim $100?

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved