MATIC, ETH and BAT Still Keep 80% Profitability Rate After Cryptocurrency Market Correction

AnalysisMATIC, ETH and BAT Still Keep 80% Profitability Rate...



Arman Shirinyan

Polygon’s Matic, BAT and Ether keep up their profitability as market continuously dives

Contents

Although the majority of the market continues moving in a 20% correction, some altcoins still keep their profitability rates significantly higher than the average. While Ethereum’s market cap significantly exceeds that of other coins, it can still compete with smaller competitors.

Matic and BAT

Polygon’s Matic token and Basic Attention Token keep one of the highest profitability rates on the market, according to IntoTheBlock’s In/Out Money Indicator. BAT keeps the lead among the most profitable tokens and coins with a market capitalization greater than $1 billion.

According to market data, the token is being held with an 86% profitability rate, which means that 86% of positions on the market have been opened below the current price. Only 12% of all BAT holders are holding their tokens at a loss.

As for the second most profitable token on the market, Matic has also retraced for more than 22% since its all-time high and is currently trading at $2.2 with a 13% gain in the last six days.

Ethereum’s market performance

As for the second-largest cryptocurrency on the market, Ethereum is unfortunately not keeping up with Matic or BAT and is currently showing a 73% profitability rate. In the last few days, Ether has failed to demonstrate the same results as Polygon’s token and only managed to gain 1%.

Ethereum IOMP
Source: IntoTheBlock

At press time, Matic and Basic Attention Token are trading with 7.7% and 1% profit, respectively, while Ethereum moves slightly below the 1% profit threshold. All three assets have experienced a strong correction since the end of December 2021 and lost approximately 20% of their value, which dropped their profitability from almost 100% to 80% on average.



Learn more

Latest news

Carvana, the Amazon of Used Cars, Is Collapsing

Carvana, the Amazon of used cars, on Wednesday is having one of its worst days on Wall Street.Carvana...

5 Strategies To Strengthen The Innovation Ecosystem

Today, the U.S. economy is largely driven by intangible innovations. From content creators on TikTok to the metaverse...

Daniel Boulud to open French steakhouse, market in new Flatiron tower

Michelin-starred chef Daniel Boulud will launch two French-inspired concepts inside a new tower rising in the Flatiron District. The...

Mike Novogratz’s Galaxy Buys Dirt-Cheap Celsius Assets

Alex Dovbnya Galaxy Digital, Mike Novogratz’s cryptocurrency firm, has agreed to buy Israeli cybersecurity company GK8 for $44 million...

Gensler Says SEC Is Fine Going After Crypto With Its Current Authority

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), isn’t waiting for new powers from...

Must read

Carvana, the Amazon of Used Cars, Is Collapsing

Carvana, the Amazon of used cars, on Wednesday...

5 Strategies To Strengthen The Innovation Ecosystem

Today, the U.S. economy is largely driven by...

Daniel Boulud to open French steakhouse, market in new Flatiron tower

Michelin-starred chef Daniel Boulud will launch two French-inspired...

You might also likeRELATED
Recommended to you