A recent report from Santiment, a behavior analytics platform, reveals that XRP is among the top 5 mainstream assets with the highest profitability despite its struggles with price. The news comes as XRP continues to struggle to break the $0.5 mark, leading to speculation about potential stablecoin developments. Since dropping below $0.6 on April 12, XRP has been unable to surpass this crucial price point for over two months, despite occasional market upswings.
Despite its price stagnation, XRP has managed to hold onto the $0.50 support level, showcasing its resilience. However, investor concerns have persisted due to the lackluster price movements. Interestingly, Santiment’s recent findings indicate that a majority of XRP’s circulating supply is currently trading at a profit.
Santiment’s Supply Profitability Metric analyzes the current value of a token compared to its initial value when it first appeared on the blockchain. According to this metric, Bitcoin (BTC) has the highest percentage of circulating supply in profit, closely followed by Ethereum (ETH). Chainlink and Dogecoin also rank high on the list, with impressive supply profitability rates.
XRP, despite not performing as well as other cryptocurrencies, boasts a supply profitability ratio of 78.8%, securing the fifth spot on the list. This high profitability can be attributed to the fact that most of XRP’s circulating supply was released at a low price, and token releases have often coincided with the cryptocurrency’s persistently low value.
Ripple’s regular release of XRP tokens from escrow further contributes to XRP’s supply profitability, with approximately 200 million tokens being released each month. This steady release of tokens, often at low prices, helps to maintain XRP’s high profitability ratio.
It’s important to note that this information is for informational purposes only and should not be construed as financial advice. Readers are advised to conduct their own research before making any investment decisions. The views expressed in this article are solely the author’s and do not necessarily reflect The Crypto Basic’s opinions. The Crypto Basic is not liable for any financial losses incurred.