Crypto Holders Sit in Massive Gains as Percent of Supply in Profit Soars

An on-chain indicator is clearly showing the current sentiment for the major cryptos: most holders are sitting on unrealized profits.

The “Percent of Total Supply in Profit” metric tracks how much of a cryptocurrency’s circulating supply was acquired at a price lower than its current market value. Right now, it seems that a lot of top coins are seeing a historically high amount of profit among their holders.

Here are the figures for some of the major coins:

Bitcoin (BTC): 73.1%

Ethereum (ETH): 79.6%

Litecoin (LTC): 83.5%

Chainlink (LINK): 92.3%

Ripple (XRP): 90.5%

Polkadot (DOT): 91.5%

Cardano (ADA): 87.9%

Solana (SOL): 95.4%

The figures for Chainlink, Ripple and Solana are especially impressive.

The data indicates that the market has experienced widespread increases in the prices of assets, from Bitcoin and Ethereum to altcoins like XRP and Dogecoin. This could be seen as a sign that the market is quite strong. But it could also mean that the market in general is due for a correction, as people might be tempted to take profits after the long, nearly uninterrupted upward trend we’ve seen.

Bitcoin, XRP Lead the Pack in Holder Profits

New data shows that Bitcoin has the highest amount of its supply in profit. Currently, 98.4% of circulating Bitcoin is worth more than it was worth when it was acquired. This reflects the long-term bullishness of Bitcoin. It also reflects the conviction held by many who hold Bitcoin.

XRP is closely behind with 98.3 percent of its supply in favorable territory for holders. This is a surprising figure given all the regulatory and legal trouble XRP has faced, including a lawsuit from the SEC. XRP is now almost completely in profitable territory thanks to its recent price recovery. Pretty much all XRP holders are now making money, which confirms that the market has pretty much shaken off the earlier uncertainty it had with regard to this token.

Other significant assets are likewise registering stout profit rates. Chainlink counts 80.5 percent of its supply in profit; Dogecoin, 77.9 percent; Ethereum, 71.5 percent; and Cardano, 71.0 percent. Not on par with Bitcoin or XRP, these numbers nonetheless suggest a large swath of token holders in these networks is seeing returns on its investments.

💸 Percent of Total Supply in Profit is a straightforward metric that shows how much of a cryptocurrency’s current circulating supply is held at a profit—meaning the coins were bought at a lower price than they’re worth today. Currently, some notable top caps’ supply in profit… pic.twitter.com/QU3sGrtV07

— Santiment (@santimentfeed) May 28, 2025

What This Metric Tells Us About Market Sentiment

The Percent of Supply in Profit is a metric that is simple and direct. A token is either in profit or it isn’t, with the profit margin being minimal for some. This offers a simple yet effective way of viewing how positioned in the market investors are. Of course, when large amounts of a coin’s supply are in profit, it more often than not indicates that the price has been moving in a positive direction recently and that the holders themselves are exhibiting bullish sentiment.

Yet this trend can also signal something more ominous. When a token becomes overbought—as indicated by the variety of signals described above—its price is probably at or near an unsustainable peak. Although this peak may persist for a time, it will inevitably be followed by a cooldown phase. Since this is the typical life cycle of overbought tokens, these sorts of price trends represent the kind of living danger signs that traders should be wary of.

Conversely, when most of a coin’s supply is losing money, this usually signals that the market is awash with pessimism and fear. Historically, these moments of low sentiment have often coincided with buying opportunities. They tend to mark the moments when a coin is way undervalued and is just about to recover in price.

To gain a better overall understanding, this metric is frequently examined together with other ones such as the Market Value to Realized Value ratio (MVRV), the Relative Strength Index (RSI), and the Network Realized Profit/Loss. When looked at together, they offer insight into whether or not the market is in an overbought or oversold condition, or somewhere in the middle.

Rising Profits: Opportunity or Warning?

With the continual evolution of cryptocurrencies and the emergence of new coins, it’s anticipated that an increasing portion of the supply of individual assets will be held in profit. But looking at percentages instead of actual numbers gives us a clearer, inflation-adjusted picture of the current market. This allows us to reach conclusions that aren’t misled by simple volume comparisons.

At present, the profits being made by the holders of Bitcoin, XRP, and other major coins are nearly universal. That is an unambiguous thumbs-up for the kind of upward momentum we like to see. And yet, it also makes us think about being cautious. At least, it should make us think about being cautious because crypto’s cyclical nature means that periods of high profitability often lead to market resets—consolidations or corrections.

The percentage of supply in profit isn’t predictive by itself, but combined with larger market analysis, it becomes a pretty nifty gauge of investor sentiment. Whether this current round of nice moves turns out to be the prelude to sustained new highs or just the thing that kicks off the next wave of profit-taking, the fact is that right now the entire crypto market is in a nice phase, and everyone is watching to see what happens next.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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