The majority of holders of the queen of cryptos have latent capital gains due to its surge in recent weeks.
The surge in the price of bitcoin is making people happy. According to Intotheblock, 94% of total bitcoin holders have latent capital gains since the asset exceeded $50,000 on Monday. This means that they acquired bitcoins at a lower price than its current price, around $50,000. Bitcoin has increased by 150% over the year 2023 and by 22% since the start of 2024, driven by investor optimism.
With bitcoin has in fact exceeded 50,000 dollars this Monday, a first since December 2021. This increase in bitcoin takes place a month after the launch of 11 spot bitcoin ETFs on the American market, on January 10. Despite this increase, bitcoin still remains far from its all-time high reached in November 2021, at $69,000.
What about altcoins?
The 90% threshold was exceeded when bitcoin crossed $46,000 a month ago, following the arrival of spot bitcoin ETFs on the American market. “This is an increase compared to a little less than 50% at the start of last year”, underlined the specialized site Coindesk.
If bitcoin holders are celebrating, the gains of holders of altcoins (the most capitalized cryptocurrencies other than bitcoin) on the market are less significant. For example, 81% of total holders of ether, the second crypto in terms of capitalization, are today in a situation of latent capital gain. Holders of cardano, avalanche and dogecoin cryptocurrencies benefit from latent capital gains of 51%, 76% and 48%, again according to IntoTheBlock.