Glassnode says 83% of Crypto Addresses are Currently Profitable

Glassnode says 83% of Crypto Addresses are Currently Profitable

By Abhimanyu Krishnan | News | 24 Jun 2020

Blockchain data analytics firm Glassnode has reported new data that shows 83% of cryptocurrency addresses are currently profitable. This is a significant increase from the 2020 low point of March 12, also known as “Black Thursday”, when roughly 45% of addresses were profitable. 


The number of addresses is edging closer to the year’s high. Source.

While still a lower figure from 2019’s peak, when the number of profitable addresses were roughly 95%, it marks an improvement for the cryptocurrency market at a time when investors are hoping for a bull run following stable prices at around $9000 levels. 

Glassnode also launched the Glassnode Index in May 2020, which aims to make “on-chain analysis more accessible to Bitcoin investors.” The index takes into account various factors, such as liquidity and network health, and condenses into a single metric used to measure the quality of an asset.

Glassnode, with its GNI index in May, reported that Bitcoin could face a bear market if overall market health and network activity declined. At the time, the GNI index for Bitcoin dropped 18% in a week. However, it remains optimistic about the long-term health of Bitcoin. 


Glassnode’s most recent market report shows a relatively healthy week for Bitcoin. Source.

The most recent market report by Glassnode sees the GNI Index drop by only a single point, with the sentiment factor suffering the most in the last week. The firm still reports a “bullish regime” for Bitcoin as a result of healthy activity, but that it would take some effort to break the psychological barrier of $10,000.

Despite healthy activity however, it appears that the market is being held back in terms of upward price movement for the time being. In order to break the $10k mark, the market will need to overcome the psychological barrier that comes with that price level.

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


Official Publish0x Crypto News Channel

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.