Investors in the top five cryptocurrencies by market cap, holding these assets for more than a month, have reported close to $2.8 billion in profits over the last month, based on data from Glassnode.
The blockchain analytics firm indicates that the crypto market is beginning to show signs of contraction due to substantial profit-taking in Bitcoin, Ethereum, Solana, XRP, and Tron, as traders attempt to secure gains from the recent market upswing.
Bitcoin accounts for most of the realized profits
According to Glassnode, Bitcoin has been at the forefront of profit-taking among these digital currencies, representing over 50% of the reported activity.
On July 18, Bitcoin investors who had held onto their assets for more than a month realized over $1.5 billion in profits, marking the largest single profit extraction since December 2024, according to Glassnode.
Notably, this spike in profit-taking occurred as Bitcoin’s price exceeded $119,000, significantly higher than its present level of $113,000, making it an appealing opportunity for investors to secure returns while market sentiment remained positive.
Ethereum, ranking second among digital assets by market cap, exhibited a similar pattern.
On August 16, long-term ETH holders withdrew around $575 million from the market, marking the most significant profit realization for the token during this cycle.
Interestingly, this selling pressure has resulted in an 11% drop in Ethereum’s price over the past week, bringing it down to $4,177.
XRP leads profit-taking among the prominent altcoins
Several other notable cryptocurrencies have also seen significant profit-taking in the last month.
On August 17, Solana investors realized over $105 million, marking the largest withdrawal since the price surge above $200 in early 2025.
Furthermore, XRP holders also capitalized on profits, totaling approximately $375 million on July 24, mirroring the distribution trend seen during the December 2024 rally, which was surged by Donald Trump’s electoral victory.
Additionally, investors in the Justin Sun-affiliated Tron network achieved a remarkable profit realization of $230 million on August 6, the highest in the history of the network.
