Crypto markets may look shaky on the surface after seeing a massive fall these days, but onchain data tells a very different story. According to new insights from Glassnode, some of the largest profit-taking waves of the year have just taken place, with long-term holders cashing out billions across Bitcoin, Ethereum, Solana, XRP, and Tron.
Bitcoin Leads with $1.5B Profit Wave
Bitcoin (BTC), the largest cryptocurrency, experienced its biggest profit realization spike since December 2024. On July 18, investors holding BTC for over a month cashed out more than $1.5 billion in profits, often seen when long-term believers decide to secure gains after extended rallies.
Meanwhile, Whale Alert reported that in the past few hours, a whale transferred 580 BTC, worth nearly $65 million, to Binance, raising eyebrows about potential sell pressure.
As of now, the Bitcoin price is down to 113,720, reflecting a bearish market sentiment.
Ethereum’s Record $575M Realization
Ethereum (ETH) followed suit, with longer-term holders realizing $575 million in profits on August 16, marking the largest profit-taking event in the current cycle.
However, this indicates that even Ethereum’s strongest supporters are playing it safe, trimming exposure in the face of market uncertainty.
On the other hand, onchain data noted that Ethereum network activity is also seeing a massive drop.
Solana Recorded Biggest Profit-Taking
Other notable altcoins are showing similar patterns. Solana (SOL) saw its biggest profit-taking event since early 2025 on August 17, when holders cashed out over $105 million. SOL’s current price hovers around $182, pointing to significant profit-taking pressure for this once high-flying blockchain asset.
XRP Join the Distribution Trend
XRP holders, on July 24, recorded a $375 million profit spike, resembling the distribution pattern seen during the rally in December 2024. XRP is trading roughly at $2.90 as investors take advantage of recent price gains.
Tron’s Historic $230M Cash-Out
Perhaps most surprising was Tron. On August 6, TRX holders locked in $230 million in profit, the biggest in the network’s history. This event underscores growing sell pressure across several altcoins, with TRX priced today near $0.35.
What Next For Crypto Market
Collectively, these profit-taking signals confirm that while the market shows signs of contraction, seasoned investors are strategically safeguarding their positions.
Meanwhile, the crypto market is in a phase of contraction, and the next big move will depend on whether new buyers step in to absorb this heavy wave of distribution.
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