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

链上数据显示比特币和狗狗币是最赚钱的投资

Holder Profitability Rankings Among Major Layer-1 Networks

主要第一层网络持有人盈利能力排名

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

在 X 上最近发布的一份分析中，市场情报平台 IntoTheBlock 检查了领先的第一层网络中持有者的盈利能力。

Holder Profitability: A Metric of Investment Returns

持有人盈利能力：投资回报的衡量标准

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.

持有者盈利能力衡量加密货币网络上当前持有未实现收益的投资者或地址的百分比。该指标是通过分析区块链上每个地址的交易历史来计算的，以确定获取代币的平均价格。如果该平均成本基础低于当前现货价格，则投资者被视为盈利。

Top Six Cryptocurrencies Ranked by Holder Profitability

按持有人盈利能力排名前六名的加密货币

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).

下表列出了六种主要加密货币的持有者盈利能力排名：比特币（BTC）、以太坊（ETH）、狗狗币（DOGE）、卡尔达诺（ADA）、雪崩（AVAX）和波场（TRX）。

Bitcoin and Dogecoin Lead the Pack

加密货币持有者盈利能力比特币 (BTC)86%波场 (TRX)85%狗狗币 (DOGE)83%以太坊 (ETH)81%雪崩 (AVAX)63%卡尔达诺 (ADA)35%比特币和狗狗币领先

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%.

如图表所示，目前比特币在持有者盈利能力方面位居榜首，其 86% 的地址都在盈利。 Tron 以 85% 紧随其后，而狗狗币以 83% 排名第三。

Bull Market Boost for Profitability

牛市提振盈利能力

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.

正如比特币和狗狗币那样，高水平的盈利能力在牛市期间并不罕见。在此期间，盈利能力甚至可以达到更高的极限。然而，值得注意的是，极端的盈利水平历来与市场顶部相关。

Cardano's Low Profitability: A Potential Positive Sign

卡尔达诺的低盈利能力：一个潜在的积极信号

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，例如在卡尔达诺（以及在某种程度上，雪崩）中观察到的盈利能力，可能表明有反弹的潜力。从历史上看，当只有较低比例的投资者获利时，市场就会触底。

Bitcoin Price Retreat

比特币价格回落

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

尽管盈利能力很高，但比特币的价格已回吐近期涨幅，回落至 63,200 美元。

Conclusion

结论

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.

链上数据表明，比特币和狗狗币是目前主要第一层网络中最赚钱的投资。虽然高盈利能力可以表明市场强劲，但重要的是要监控可能预示市场调整的极端水平的迹象。另一方面，卡尔达诺的低盈利能力可能是潜在价格反弹的积极指标。