According to Odaily, CryptoQuant analyst Axel Adler Jr has observed that the short-term holder profitability ratio (STH SOPR, 30-day moving average) has recently reached a local peak. This indicates that short-term investors are realizing significant profits when selling on-chain. Despite this, the demand for tokens remains robust and has not hindered the current upward trend. The indicator has yet to reach the sentiment peak levels seen during historical market highs.