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Trading & Pricing

Realized Price

Average BTC price paid when each coin was received (cost basis)

Category: Trading & Pricing Also known as: 2 Related terms: 3

Definition

For an address: average BTC price at the time each UTXO arrived, weighted by value. Per-address realized price is the basis for MVRV. Aggregate realized price (chain-wide) is similar but heavily skewed by old coins.

Context anchor

Per-address realized price < spot price = "in profit"; > spot = "underwater"

Example

Address realized-price $42k — average paid across all UTXOs

Also known as

realized pricerealized cap

Related terms

  • SOPRSpent-Output Profit Ratio — were sold coins in profit or loss?
  • MVRVMarket value vs cost basis — how much an address is up (or down)
  • HODL WavesHow long whales have held their coins, grouped by age band