Glassnode’s Percent Supply in Profit metric for ETH, XRP, and SOL has continued to decline since October. The indicator tracks the share of tokens last moved at a lower price than today; when it falls, it signals that fewer holders are in profit and more are carrying losses.

According to Glassnode, the percent of supply in loss for major assets is:

• BTC: 34.91%

• XRP: 36.70%

• ETH: 38.37%

• SOL: 74.84%

The situation is reinforced by rising Realized Loss, which measures the total USD value of coins moved when their previous cost basis was higher than the current price. This reflects the behaviour of newer traders who entered during recent declines.

As of November 25, ETH, SOL, and XRP all posted their highest 7-day average realized loss since the April market drop. Glassnode notes that losses among new altcoin investors are increasing as prices struggle to rebound, signalling “growing stress across the speculative end of the market.”

The mounting loss pressure may prompt more investors to exit in order to preserve capital, potentially deepening downward momentum. Meanwhile, attention within the market appears to be shifting toward altcoins with stronger narratives, including Privacy Coins and Neobank Coins.