# Percent UTXOs in Profit

## Indicator Overview

A [UTXO](https://docs.glassnode.com/on-chain-concepts/utxo-vs.-account-based-chains#utxo-unspent-transaction-output-chains) is [in profit](https://docs.glassnode.com/guides-and-tutorials/metric-guides/profit-loss-utxo/utxos-in-profit) if the current price is higher than the price at the time it was created. Conversely, a UTXO is [in loss](https://docs.glassnode.com/guides-and-tutorials/metric-guides/profit-loss-utxo/utxos-in-loss) if the current price is lower than the price at the time it was created.

Percent UTXOs in Profit highlights the percentage of the total set of UTXOs which are currently in profit. In general, higher values may suggest market tops, while lower values may signal bottoms. However, [Percent Supply in Profit](https://docs.glassnode.com/guides-and-tutorials/metric-guides/profit-loss-supply/percent-supply-in-profit) and [Net Unrealized Profit/Loss (NUPL)](https://docs.glassnode.com/guides-and-tutorials/metric-guides/unrealized-profit-loss/nupl-net-unrealized-profit-loss) can often provide a clearer signal of tops and bottoms based on the same concept of examining average profit and loss across a network.

<figure><img src="https://2190898932-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-Ldi5WtVBeQ2iFbdqJ1a%2Fuploads%2Fgit-blob-361fe28ef61176cceb113700a1a9620882fa800b%2F1.png?alt=media" alt="Bitcoin: Percent UTXOs in Profit"><figcaption></figcaption></figure>

* [View Percent UTXOs in Profit in Glassnode Studio](https://studio.glassnode.com/metrics?a=BTC\&m=blockchain.UtxoProfitRelative)
* [View Percent UTXOs in Profit in Glassnode API Docs](https://docs.glassnode.com/basic-api/endpoints/blockchain#percent-utxos-in-profit)

## How is it measured?

Percent UTXOs in Profit is calculated by dividing the absolute number of [UTXOs in Profit](https://docs.glassnode.com/guides-and-tutorials/metric-guides/profit-loss-utxo/utxos-in-profit) by the total number of UTXOs and converting to a percentage.

$$
\textrm{Percent UTXOs in Profit} = 100 \cdot \frac{\textrm{UTXOs in Profit}}{\textrm{Number of UTXOs}}
$$

## About

### Introduced By

[Glassnode](https://twitter.com/glassnode/)

### Date Introduced

November 2019

## Further Resources

Rafael Schultze-Kraft - [Dissecting Bitcoin's Unrealised On-Chain Profit/Loss](https://medium.com/glassnode-insights/dissecting-bitcoins-unrealised-on-chain-profit-loss-73e735020c8d)