Crypto Chaos: XRP, TRX Thrive as ETH, SOL Sink into the Abyss

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In a universe where the only constant is chaos, the crypto market has once again proven that it’s as predictable as a cat on a Roomba. On-chain analytics firm Glassnode, which sounds like a rejected Bond villain, has pointed out a curious divergence in the profitability of crypto assets. Some are soaring like a caffeinated eagle, while others are plummeting like a lead balloon with a hole in it.

While two major cryptocurrencies—let’s call them the “Golden Children”—continue to bask in the warm glow of unrealized gains, others, particularly Ethereum
ETH
$1,571
24h volatility: 4.2%
Market cap: $189.66 B
Vol. 24h: $30.17 B
and Solana
SOL
$110.8
24h volatility: 7.8%
Market cap: $57.15 B
Vol. 24h: $7.85 B
, have seen their holder profitability collapse faster than a soufflé in a hurricane.

TRX and XRP: The Unlikely Heroes

At the top of the heap is Tron
TRX
$0.24
24h volatility: 4.3%
Market cap: $22.43 B
Vol. 24h: $942.63 M
, with 84.6% of its total supply still in profit, only down 5.6 percentage points year-to-date. It’s like the cockroach of cryptocurrencies—it just won’t die.

Despite recent drawdowns, some assets still have the majority of their supply in profit.

On the high end:$TRX: 84.6% of supply in profit (down just -5.6pp YTD)$XRP: 81.6% (down -10.4pp)

— glassnode (@glassnode) April 8, 2025

TRX is currently trading at $0.2349, up 4% in the past 24 hours, and has recently reclaimed its 20-day Exponential Moving Average (EMA) at $0.2334. It’s like the cryptocurrency equivalent of a phoenix, except it’s more of a pigeon that just won’t quit.

Notably, the asset is still relatively close to its all-time high of $0.4407, reached just four months ago. Close behind is Ripple’s XRP, with 81.6% of its supply in profit, despite a 10.4-point decline YTD. XRP
XRP
$1.95
24h volatility: 8.7%
Market cap: $114.14 B
Vol. 24h: $8.08 B
is currently priced at $1.87, having jumped 7.28% in the past day. It’s like the cryptocurrency version of a comeback kid, except it’s more of a comeback middle-aged adult.

Technically, the token faces key resistance at its 20-day EMA at $2.13, but first needs to reclaim the former support level at $2 to confirm a stronger bullish setup. It’s like trying to climb a mountain, but the mountain is made of Jell-O.

ETH and SOL: The Titanic Duo

At the opposite end of the spectrum are Ethereum (ETH) and Solana (SOL), both experiencing some of the steepest drop-offs in profitability this year. It’s like watching a train wreck in slow motion, except the train is made of money and the wreck is your portfolio.

Only 44.9% of ETH’s supply remains in profit, down a staggering 39.9 percentage points since the start of the year.

On the low end:$ETH: 44.9% in profit (↓ -39.9pp YTD)$SOL: 31.6% (↓ -46.8pp)

These two saw the steepest declines in unrealized gains across majors. A majority of holders are now underwater.

— glassnode (@glassnode) April 8, 2025

Despite a modest 5% recovery in the last 24 hours, ETH is still down nearly 30% in the past month, and more than 50% off its all-time high of $4,878 from the 2021 bull run. It’s like the cryptocurrency equivalent of a midlife crisis, except it’s more of a full-blown existential crisis.

Ethereum has notably failed to set a new ATH this cycle, unlike some of its peers. It’s like the cryptocurrency version of a has-been rock star, except it’s more of a never-was.

Interestingly, a dormant Ethereum whale, dubbed an “Ethereum OG”, recently stirred after seven years of inactivity, transferring 2,000 ETH worth $3.11 million to Kraken. It’s like the cryptocurrency equivalent of a sleeping giant, except it’s more of a sleeping guppy.

Solana, meanwhile, has fared even worse. Only 31.6% of SOL’s supply is currently in profit, a year-to-date plunge of 46.8 percentage points. It’s like the cryptocurrency version of a sinking ship, except it’s more of a sinking rubber duck.

After a strong 7.7% bounce, SOL trades at $107, but the 20-day EMA at $122 looms as stiff resistance. While bulls may be hopeful, many holders are still deep underwater. It’s like trying to swim with concrete shoes, except the concrete is made of regret.

Middle Ground: BTC, TON, ONDO, DOGE

Several other major assets lie between the extremes. Bitcoin
BTC
$79,835
24h volatility: 4.0%
Market cap: $1.59 T
Vol. 24h: $65.86 B
maintains a solid position with 76.8% of supply in profit, though that figure has fallen 11.9pp YTD. It’s like the cryptocurrency equivalent of a reliable old car, except it’s more of a slightly unreliable old car.

Other assets sit somewhere in between:$BTC: 76.8% (↓ -11.9pp)$TON: 76.7% (↓ -5.5pp)$ONDO: 74.3% (↓ -22.2pp)$DOGE: 50.8% (↓ -32.3pp)

— glassnode (@glassnode) April 8, 2025

Currently trading at $78,923.96, BTC briefly jumped past $80,000 following a fake news article that claimed that Donald Trump would delay the tariffs by 90 days. It’s like the cryptocurrency equivalent of a rollercoaster, except it’s more of a rickety old Ferris wheel.

The White House later debunked the claim, pulling the asset back below $80,000. It’s like the cryptocurrency version of a false alarm, except it’s more of a false hope.

Toncoin
TON
$3.13
24h volatility: 3.0%
Market cap: $7.74 B
Vol. 24h: $289.76 M
and Ondo
ONDO
$0.77
24h volatility: 7.2%
Market cap: $2.43 B
Vol. 24h: $302.32 M
have 76.7% and 74.3% of their supplies in profit, respectively. It’s like the cryptocurrency equivalent of a steady job, except it’s more of a part-time gig.

TON is trading at $3.11, up 3.85% on the day and 9% over the past month, while ONDO has rebounded 6.74% today to $0.7478, despite being down 8% in the past 30 days. It’s like the cryptocurrency version of a slow burn, except it’s more of a slow simmer.

Meanwhile, Dogecoin
DOGE
$0.15
24h volatility: 9.9%
Market cap: $22.95 B
Vol. 24h: $2.78 B
is in a precarious middle zone, with just 50.8% of supply in profit, down 32.3pp YTD. It’s like the cryptocurrency equivalent of a tightrope walker, except it’s more of a tightrope stumbler.

Currently trading at $0.1504 after a 7.5% increase, DOGE has caught analyst attention, as it appears to be breaking out from an ascending parallel channel. It’s like the cryptocurrency version of a breakout star, except it’s more of a breakout wannabe.

#Dogecoin $DOGE is breaking out of an ascending parallel channel, signaling a potential move toward $0.060!

— Ali (@ali_charts) April 7, 2025

Crypto analyst Ali Martinez suggests a move toward $0.060 could be on the cards, although that would represent a steep drop from current levels. It’s like the cryptocurrency equivalent of a cliffhanger, except it’s more of a cliff-faller.

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2025-04-08 17:35