Bitcoin (BTC) Takes the Lead with 83% of Addresses Now in the Green

"Over 83% of Bitcoin Addresses Thrive in Profit, Reveals IntoTheBlock Data"

According to data from IntoTheBlock (ITB), a staggering 83% of Bitcoin addresses are currently “in the money,” while only 14.98% are in loss and 1.35% are at their break-even points. In terms of actual numbers, ITB reveals that there are approximately 42.04 million addresses in profit, 7.53 million addresses in loss, and 679,660 addresses at their break-even points.

When comparing these figures to Ethereum, Bitcoin’s leadership in the cryptocurrency market becomes even more apparent. Despite Ethereum being a cheaper alternative with more potential for a price increase, only 74.69% of Ethereum addresses, equivalent to 77.97 million addresses, are currently profitable. On the other hand, 24.76 million addresses, or 23.72% of the total, are experiencing losses, while 1.66 million addresses, or 1.59% of the total, are at their break-even points.

The differences become even more pronounced when comparing Bitcoin to other altcoins such as Cardano (ADA) and Dogecoin (DOGE). The majority of analysts believe that the eventual approval of a Bitcoin Exchange-Traded Fund (ETF) could significantly tip the scales in favor of Bitcoin. It is projected that the approval of a Bitcoin ETF could result in a cash injection of around $250 billion, based on a conservative estimate of the assets under management (AUM) of various applications. Prominent analyst Samson Mow predicts a bright future for Bitcoin if this scenario unfolds, making it one of the biggest winners in the market.

It is important to note that this article was originally published on U.Today and any brand mentions have been excluded.

Martin Reid

Martin Reid

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