On-chain analytics firm Glassnode revealed how the typical altcoin investor has generally been generating losses since late 2024.
The average SOPR in the altcoin sector has remained below 1
In new mail On X, Glassnode talked about the latest trend in the average SOPR of the altcoin market. the “excellent“, which stands for the proportion of output profits consumed, here refers to a common on-chain indicator that tells us whether traders on a particular network move their coins with a net profit or loss.
When the value of the scale is greater than 1, it means that take profit is the prevailing mode in transactions. On the other hand, the presence of the indicator below this limit indicates that investors are, on average, making a net loss through selling. Of course, SOPR being exactly equal to 1 indicates that the profits made on the network completely cancel out the losses. In other words, shareholders as a whole can be considered merely neutral in their movements.
Now, here is the chart shared by Glassnode which shows the trend in the average SOPR of the top 500 assets in the cryptocurrency sector by Market value Over the past two years:
Looks like the value of the metric has gone down in recent days | Source: Glassnode on X
As shown in the chart above, the average SOPR for the top 500 digital assets rose to a value of 1 during the recent recovery boom in this sector. This suggests that altcoin investors as a whole were quick to seize this opportunity to break even. But since the sell-off, the markets have reversed course. In terms of weekly returns, Bitcoin fell more than 4%, while Ethereum lost 7%. Major altcoins such as XRP and Solana have also achieved notable success within this window.
From the chart, it appears that loss making in the sector has returned along with the pullback. With another failure to find a breakout of the profit zone, the average SOPR of the top 500 coins is now extending its already long stay within the underwater zone. During 2025, there were two very short rallies above level 1 of the scale, but the last time there was a proper breakout was in late 2024. Thus, it appears that the average altcoin trader has been in loss-making mode for 1.5 years.
Interestingly, the loss behavior among investors could not change when Bitcoin and other assets noticed it happening Running bull last year. Given this, it only remains to be seen what needs to happen to change the situation of altcoin traders, if their situation is to change at all.
Ethereum price
At the time of writing, Ethereum is trading at around $2,100, down 0.2% over the past 24 hours.
The largest altcoin has been moving down recently | Source: ETHUSDT on TradingView
Featured image by Dall-E, chart from TradingView.com
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