XRP and Tron TRXUSD Have Beaten Other Coins on the List, Including Ethereum and Solana, in Supply in Profit Metrics

Prominent on-chain data aggregator Glassnode has published a report about the results of measuring the supply in profit metrics applied to major cryptocurrencies

Prominent on-chain data aggregator Glassnode has published the results of measuring the supply in profit metrics applied to major cryptocurrencies that are located mostly on the top 10 and top 15 lists.

According to this report, XRP and Tron TRXUSD have beaten the other coins on the list, including Ethereum and Solana.

XRP surpasses ETH, SOL and DOGE in supply in profit

Glassnode published a chart that tracks the percentage of supply of selected cryptocurrencies in profit year-to-date, which means if the current price of these coins held by investors is higher or lower than the price at which these assets were initially bought.

According to this report, there are two leaders that have surpassed the other top coins in this metric — XRP and TRX in the current market turmoil. XRP shows 81.6% (down by 10.4 pp year-to-date) and TRX holds at 84.6% (down by only 5.6 pp YTD). Therefore, 81.6% of the XRP supply and 84.6% of the TRX supply circulating the market at the moment are worth more than their holders paid for them initially.

These two coins have shown the largest resilience and strength. ETH and SOL have shown 44.9% and 31.6% of their supply in profit. BTC, DOGE, TON and ONDO’s results are even lower than those demonstrated by Ethereum and Solana, the chart shows.

Anon whale sends 200 million XRP to Binance

On Monday, popular blockchain sleuth Whale Alert, which is known for its reports on the details of large cryptocurrency transfers, spotted a massive XRP coin deposit that went to the Binance exchange. A total of 200 million XRP were transferred there from an anonymous blockchain address.

That transaction sparked a heated discussion in the comment section as some XRP enthusiasts believed it was a sale, while others disagreed. However, the clue was provided by Whale Alert itself, which added a link with details of the transaction, and it stated that what was thought to be an anonymous wallet proved to be an address associated with Binance. Therefore, it eventually turned out to be an internal transaction performed by Binance.

A similar transfer was spotted by Whale Alert but in a different cryptocurrency. A total of 300 million Dogecoin were deposited to Binance as well. This time, the anonymous wallet proved to be anonymous indeed, without Binance standing behind it.