Metrics

SOPR

Spent-Output Profit Ratio — were sold coins in profit or loss?

Category: Metrics Also known as: 2 Related terms: 3

Definition

For every spent UTXO: (sold price ÷ acquired price). SOPR > 1 means coins were sold in profit; < 1 in loss; = 1 break-even. Whale-SOPR computes only on UTXOs ≥100 BTC, isolating big-holder behaviour from retail noise.

Context anchor

<1.0 = capitulation territory; >1.05 = solid profit-taking; sustained >1.10 historically marks late-cycle euphoria

Example

SOPR 1.05 means whales sold their coins at 5% above their cost basis

Also known as

spent output profit ratiowhale sopr