Realised Cap
What Is Realised Cap?
The sum of all UTXOs valued at the price they were last transacted. Unlike market cap which values all coins at current price, Realised Cap weights each coin by its last on-chain moved price.
How to Interpret
Realised Cap growth during bull markets confirms genuine capital inflow. A declining Realised Cap signals net capital outflow from the Bitcoin network.
More Profit & Loss Metrics
Unrealised Profit/Loss
The total unrealised profit or loss of all Bitcoin held on-chain, calculated by comparing each UTXO's acquisition price to the current market price.
Realised Profit/Loss
The total profit or loss actually realized by coins that moved on-chain. Calculated from the difference between the price at which coins were acquired and the price at which they were moved.
Supply in Profit/Loss
The percentage of Bitcoin's circulating supply currently held at a profit vs. at a loss. Determined by the acquisition price of each UTXO relative to current price.
Net Realised Profit/Loss
The net difference between realised profit and realised loss on a given day. Shows whether more value is being realised as profit or loss across the network.