Fidelity Flags Ethereum and Solana as Approaching Market Capitulation
Fidelity Digital Assets has released a report indicating that Bitcoin, Ethereum, and Solana are trading near historically low levels of unrealized profit and loss.
The Net Unrealized Profit/Loss (NUPL) for these three major digital assets has dropped to levels typically seen only during severe market downturns. NUPL measures the difference between the current market price and the average price at which coins were last moved, providing insight into whether the average holder is sitting on paper profits or losses.
Ethereum is currently trading at approximately 30% below its average purchase price, with unrealized losses totaling roughly $87 billion. Solana is in a similar position, trading about 41% below its average cost basis, with unrealized losses of around $29 billion. Bitcoin, by contrast, remains in positive territory, trading around 10% above its average purchase price.