glassnode: SOL and ETH relative unrealized losses are 54.8% and 16.6%, respectively

Foresight News reports that glassnode posted on Twitter stating that the Relative Unrealized Loss, measured as a percentage of market capitalization, assesses the total unrealized loss. This indicator reflects how deeply holders are, on average, in a "paper loss" position. As of now: SOL is at 54.8%, BTC at 11.9%, and ETH at 16.6%. The high loss levels among altcoins indicate severe concentrations of positions at market tops. In these markets, supply is more heavily held by buyers who entered near the cyclical peaks.