Altcoin profit share sinks to 12% as short-term traders take losses

Profit-taking among recent altcoin holders had given way to loss-taking by end-October, according to Glassnode, while fewer than half of the major coins in a separate market index were beating Bitcoin over 90 days. In its Nov. 4 report , the on-chain analytics firm said short-term holders were spending at a profit in about 12% of its more than 300 tracked tokens by end-October, compared with about 80% in late September. Separately, BlockchainCenter's Nov. 4 snapshot put its 90-day Altcoin Season Index at 41, meaning fewer than half of its eligible major coins had beaten Bitcoin over that window.

Source: CryptoSlate