Definition. Treasury Profit Ratio (Governments) measures the profit or loss on holdings for government entities with crypto investments. The series displays individual government profitability, supporting tracking of which governments are in profit or loss on their positions.

Technical. Because the exact trading conditions such as prices are usually unknown, the metric should be considered an estimation only.

Interpretation. Positive values indicate profit, while negative values indicate unrealized losses.

Notes. Source data provided by CoinGecko.