XRP頂級買家是目前唯一的綠色購買者

鏈上數據顯示，XRP的頂級買家今天仍處於11％的淨利潤。這是其他頂級硬幣（例如比特幣和Solana）進行比較的方式。

In a new post on X, on-chain analytics firm Glassnode has taken a look at how the situation has been unfolding for the top buyers of different top cryptocurrencies.

在X上的新帖子中，鏈分析公司GlassNode介紹了不同頂級加密貨幣的頂級買家的情況。

The indicator of interest here is “Realized Price,” which keeps track of the cost basis or acquisition level of the average investor on a given cryptocurrency network.

這裡感興趣的指標是“已實現的價格”，它可以跟踪給定加密貨幣網絡上普通投資者的成本基礎或收購水平。

When the value of the metric is above the spot price of the asset, the collective state of the investors is one of unrealized loss. On the other hand, it being under the token’s price implies the dominance of profit on the network.

當指標的價值高於資產的現貨價格時，投資者的集體狀況是未實現的損失之一。另一方面，它在代幣的價格下意味著網絡上利潤的主導地位。

Now, in the context of the current discussion, the Realized Price of the entire userbase isn’t of relevance, but rather that of only a specific portion of it: the investors who got in during the earlier euphoria phase of December 2024 to January 2025.

現在，在當前討論的背景下，整個用戶群的實現價格不是相關的，而是其中的特定部分：投資者在2024年12月早些時候至2025年1月的Euphoria階段中獲得的投資者。

From today, this period lines up with the 3 months to 6 months old range, so Glassnode has referenced the average cost basis of these mid-term holders. First, here is a chart showing the Realized Price of this cohort for XRP: [chart]

從今天開始，這一時期與3個月至6個月大的範圍保持一致，因此GlassNode提到了這些中期持有人的平均成本基礎。首先，以下是一個圖表，顯示了XRP的同類群體的實現價格：[圖表]

As is visible in the above graph, the Realized Price of the 3 months to 6 months old XRP investors is currently trading a notable distance above the cryptocurrency’s spot price. Of course, at least some of the top buyers of the asset would have capitulated by now, but it would appear that those that still continue to hold are sitting relatively comfortably at a profit margin of 11%.

如上圖中可見的那樣，3個月至6個月大的XRP投資者的實現價格目前正在以高於加密貨幣的現貨價格的距離。當然，到目前為止，至少有一些資產的最高買家會降低，但是看來仍然繼續持有的人的利潤率相對舒適，利潤率為11％。

While this may be so for the mid-term holders of XRP, the trend is different for those present on the other major networks. As the below chart shows, Solana’s 3 months to 6 months old hands currently have their cost basis above the spot price.

雖然對於XRP的中期持有人來說，這可能是如此，但對於其他主要網絡上的人來說，趨勢卻有所不同。如下圖所示，Solana的3個月至6個月大的手目前的成本基礎高於現貨價格。

[chart]

[圖表]

More specifically, SOL’s mid-term investors are holding a net unrealized loss of around 28%. The situation is even worse when it comes to Ethereum, with the cohort sitting about 36% underwater on the blockchain.

更具體地說，SOL的中期投資者的淨未實現損失約為28％。當涉及到以太坊時，情況甚至更糟糕，而該隊列在區塊鏈上約為36％的水下。

Even Bitcoin has this group carrying a loss, although the margin is just 1% in the case of the number one cryptocurrency.

即使比特幣也有損失，儘管在第一名加密貨幣的情況下，利潤率僅為1％。

As for what this trend of the top buyers being underwater could mean, the analytics firm has noted, “price stabilizing below the 3m–6m holders’ cost basis is a clear sign of market weakness.”

至於最高買家在水下意味著的趨勢可能意味著什麼，分析公司指出：“價格穩定在3m–6m的持有人的成本基礎以下是市場疲軟的明顯跡象。”