91% of Holders of This Exchange Token Still in Profit Despite Crypto Bear Market

In this article, we take a look at an interesting metric (called “Holders Making Money at Current Price“) from crypto analytics startup IntoTheBlock (ITB) and see what it says about some of the most popular top 20 cryptoassets (by market cap).

ITB calls itself “an intelligence company that uses machine learning and statistical modeling to deliver actionable intelligence for crypto assets.”

Here is ITB’s explanation of this metric:

“This metric summarizes the Global In/Out of the Money indicator. It shows what percentage of addresses holding this crypto-asset are making profits (in the money), breaking even (at the money) and losing money (out of the money) given the current market price.

“For any address with a balance of tokens, ITB Identifies the average cost at which those tokens were purchased and compares it to current price. if Current Price > Average Cost, address is ‘in the Money’. If Current Price < Average Cost, address is ‘Out of the Money’.“

The percentage of holders that are enjoying unrealized gains for Bitcoin ($BTC), Ethereum ($ETH), Dogecoin ($DOGE), UNUS SED LEO ($LEO), Shiba Inu ($SHIB) are 49%, 49%, 51%, 91%, and 23% respectively.

According to data by CryptoCompare, currently (as of 3:42 p.m. UTC on July 1), $LEO is trading around $5.975, up 0.42% in the past 24-hour period.

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Featured Image by “Maklay62” via Pixabay.com

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