Crypto news & updates:#ToncoinSurge
Toncoin’s loss is the highest again. It’s followed by XRP and Bitcoin (BTC). The former saw a 0.35% drop to $0.49249. The latter decreased by 0.14%, now trading at $65,549.
On the other hand, Ethereum (ETH) increased the most. It’s up 3.22%, currently changing hands at $3,558.
The remaining coins on this green list are up between 1.6% and 3.2%.
Meanwhile, the US Securities and Exchanges Commission ended its investigation into whether ETH is a security, according to Ethereum developer Consensys. “This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” they said.
Also, on June 18, Bitcoin moved to third place among the top blockchains by NFT sales ranking, with an all-time sales volume of $4.29 billion.
Investor Profitability is Robust Despite the Volatility
Despite “chaotic price action,” investor profitability still remains robust, says the latest report by the blockchain analytics firm Glassnode.
Currently, the average coin holds an unrealized profit of around +120%.
This is typical of previous markets trading around the previous cycle all-time high, the analysts said.
The Market Value to Realized Value (MVRV) Ratio remains above its yearly baseline, which indicates that the macro uptrend is intact.
The MVRV Ratio and deviation range “highlights the statistically high profit the average investor is holding despite the recent choppy market conditions.”
Also, investors remain in a generally favorable position. Over 87% of the circulating supply is held in profit, with a cost basis below the spot price.
Meanwhile, regardless of the healthy investor profitability, the volume processed and transferred on the Bitcoin Network following the ATH has declined “drastically.”
The analysts remarked that this “underscores a reduced appetite for speculation and heightened indecision in the market.”
Additionally, looking at the Spot Volume traded across major centralized exchanges, the analysts found “a sentiment of boredom amongst investors.”
