97% of Bitcoin addresses are profitable, but most DeFi token holders are still losing money

The recent Bitcoin price rally has put about 97% of all addresses holding Bitcoin at a profit level. However, not all crypto asset holders are “making money.”

DeFi tokens are still well below their current all-time highs compared to Bitcoin. For example, almost half of YFI holders are still stuck.

At $18,600 Bitcoin Price, Only 0.11% of Addresses Are Unrealized

Bitcoin prices have skyrocketed in recent weeks. The digital asset by market cap opened November trading at around $13,800. Just three weeks later, one Bitcoin is now trading at over $18,600.

According to cryptocurrency market analysis firm Into the Block, more than 97% of all addresses now have an average buy price below today’s price. The firm’s “in-funds” metric shows that the owners of 31.88 million addresses are currently in a position to sell their holdings for a profit.

Into the Block also claims that only 0.11% of the analyzed addresses bought Bitcoin at a higher average price. With Bitcoin currently trading around $1,000 below its 2017 all-time high, that means only 35,730 addresses are in the red.

The metric also shows that 2.67% of addresses acquired Bitcoin when the price was between $17,945 and $18,771. The company believes that these 874,760 addresses belong to high-level investors.

Most DeFi tokens are still in the red

Into the Block shows that a larger proportion of holders of other cryptocurrencies are still losing money. For example, the profitable wallets of ETH, LINK, ADA and LTC account for approximately 88%, 85%, 79% and 73% respectively.

On the other hand, the much-hyped DeFi tokens are showing some notable lagging. Today, only 62% of SNX and AAVE wallets are profitable. Meanwhile, only 54% of YFI wallets are “profitable.”

With DeFi tokens experiencing their own bubble this summer, and most protocol tokens launched after the 2017 bull run, many are now trading well below their all-time highs. For example, YFI hit a high of around $43,300 on September 13.

After reaching its peak, Yearn.Finance’s trading price fell to a low of around $8,500. Despite the recent rebound, its current price of $25,250 still leaves many holders out of pocket.