What Is Supply in Profit?
Supply in Profit measures the percentage of a cryptocurrency's circulating supply that is currently at an unrealized profit — meaning the current market price is above the price at which each coin last moved on-chain. The complement is Supply in Loss (coins currently underwater relative to their cost basis).
How Supply in Profit Works
Supply in Profit oscillates with the market cycle: it approaches 100% near cycle peaks (almost everyone is in profit) and drops below 50% near cycle bottoms (the majority of holders are underwater). The speed of change matters — a rapid increase in Supply in Profit during a rally signals new money entering at lower prices, while a rapid decrease signals capitulation.
Why It Matters for Traders
Supply in Profit crossing above 90% has historically preceded distribution phases and eventual market tops — when nearly everyone is profitable, the temptation to sell is overwhelming. Conversely, Supply in Profit dropping below 50% has preceded the best risk-adjusted buying opportunities. The metric provides a direct, objective measure of how much pain the market has absorbed.
