About 12% of Tracked Tokens Saw Profitable Holder Sales

Recent holders sold at a profit in about 12% of more than 300 tracked tokens at the end of October, down from about 80% in late September. The latest measurement puts a number on the shift toward loss-making sales among altcoin holders.

The short-term-holder spent output profit ratio measures the outcome for coins that were spent. A reading above 1 indicates sales at a profit, while a reading below 1 indicates sales at a loss. By the end of October, short-term holders of the typical tracked token were selling at a small loss. The data were current through 6 a.m. ET Nov. 4 (11:00 UTC).

The 12% figure is the share of tracked tokens with profitable spending by recent holders. It is not the share of traders who made money, and it does not measure losses on coins that remain unsold.

A separate 90-day Altcoin Season Index, which compares eligible top-50 coins with Bitcoin (BTC), was in neutral territory on Nov. 6. The index uses 75% outperforming BTC as its altcoin-season threshold. It measures relative price performance, so it tracks a different result from the spent-coin profitability measure.