On-Chain Data Reveals Bitcoin and Dogecoin as Most Profitable Investments

鏈上數據顯示比特幣和狗狗幣是最賺錢的投資

Holder Profitability Rankings Among Major Layer-1 Networks

主要第一層網路持有者獲利能力排名

In a recent analysis published on X, IntoTheBlock, a market intelligence platform, examined the profitability of holders across leading layer-1 networks.

在 X 上最近發布的一份分析中，市場情報平台 IntoTheBlock 檢查了領先的第一層網路中持有者的獲利能力。

Holder Profitability: A Metric of Investment Returns

持有人獲利能力：投資報酬的衡量標準

Holder profitability measures the percentage of investors or addresses on a cryptocurrency network that are currently holding unrealized gains. This metric is calculated by analyzing the transaction history of each address on the blockchain to determine the average price at which coins were acquired. If this average cost basis is lower than the current spot price, the investor is considered to be in profit.

持有者獲利能力衡量加密貨幣網路上目前持有未實現收益的投資者或地址的百分比。該指標是透過分析區塊鏈上每個地址的交易歷史來計算的，以確定獲取代幣的平均價格。如果該平均成本基礎低於當前現貨價格，則投資者被視為獲利。

Top Six Cryptocurrencies Ranked by Holder Profitability

按持有人獲利能力排名前六名的加密貨幣

The following table presents the holder profitability rankings for six major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), and Tron (TRX).

下表列出了六種主要加密貨幣的持有者獲利能力排名：比特幣（BTC）、以太坊（ETH）、狗狗幣（DOGE）、卡爾達諾（ADA）、雪崩（AVAX）和波場（TRX）。

Bitcoin and Dogecoin Lead the Pack

加密貨幣持有者獲利能力比特幣(BTC)86%波場(TRX)85%狗狗幣(DOGE)83%以太幣(ETH)81%雪崩(AVAX)63%卡爾達諾(ADA)35%比特幣和狗狗幣領先

As the table shows, Bitcoin currently holds the top spot in terms of holder profitability, with 86% of its addresses in profit. Tron follows closely with 85%, while Dogecoin ranks third with 83%.

如圖表所示，目前比特幣在持有者獲利能力方面位居榜首，其 86% 的地址都在獲利。 Tron 以 85% 緊隨其後，而狗狗幣以 83% 排名第三。

Bull Market Boost for Profitability

牛市提振獲利能力

High levels of profitability, as seen in Bitcoin and Dogecoin, are not uncommon during bull markets. Profitability can reach even higher extremes during such periods. However, it's important to note that extreme profitability levels have historically been associated with market tops.

正如比特幣和狗狗幣那樣，高水準的獲利能力在牛市期間並不罕見。在此期間，獲利能力甚至可以達到更高的極限。然而，值得注意的是，極端的獲利水準歷來與市場頂部相關。

Cardano's Low Profitability: A Potential Positive Sign

卡爾達諾的低獲利能力：一個潛在的正面訊號

Conversely, low levels of profitability, such as those observed in Cardano (and to some extent, Avalanche), may indicate potential for a rebound. Historically, market bottoms have occurred when a low percentage of investors are in profit.

相反，低水平的盈利能力，例如在卡爾達諾（以及在某種程度上，雪崩）中觀察到的盈利能力，可能表明有反彈的潛力。從歷史上看，當只有較低比例的投資者獲利時，市場就會觸底​​。

Bitcoin Price Retreat

比特幣價格回落

Despite its high profitability, Bitcoin's price has retraced its recent gains, falling back towards $63,200.

儘管獲利能力很高，但比特幣的價格已回吐近期漲幅，回落至 63,200 美元。

Conclusion

結論

On-chain data suggests that Bitcoin and Dogecoin are currently the most profitable investments among major layer-1 networks. While high profitability can indicate market strength, it's important to monitor for signs of extreme levels that may foreshadow a market correction. Cardano's low profitability, on the other hand, may be a positive indicator for a potential price rebound.

鏈上數據表明，比特幣和狗狗幣是目前主要第一層網路中最賺錢的投資。雖然高獲利能力可以表明市場強勁，但重要的是要監控可能預示市場調整的極端水平的跡象。另一方面，卡爾達諾的低獲利能力可能是潛在價格反彈的積極指標。