glassnode: The profitability of Bitcoin investors has exceeded that of Ethereum for 812 consecutive days, setting a new historical record

ChainCatcher news, according to glassnode data, since November 2022 (the FTX collapse), Bitcoin's realized market cap has increased by $468 billion (+117%), while Ethereum has only increased by $61 billion (+32%). The MVRV ratio shows that since January 2023, Bitcoin investors' unrealized profits have consistently been higher than those of Ethereum holders.

In March of this year, Ethereum's MVRV fell below 1.0, indicating that ordinary investors are now in a loss position. The MVRV difference between the two assets confirms that Bitcoin investors' profitability has exceeded that of Ethereum for 812 consecutive days, setting a historical high. This ongoing trend highlights the structural differences between the two assets throughout the cycle.