The CEO of the on-chain analytics firm CryptoQuant has explained how the Bitcoin whales have been showing a shift in their Realized Cap recently. New Bitcoin Whales Are About To Overtake Old Ones In a new post on X, CryptoQuant CEO Ki Young Ju has discussed the recent trend in the Realized Caps of the new and old Bitcoin whales. The “Realized Cap” here is a model that calculates the total valuation of Bitcoin by assuming that each coin’s ‘true’ value in circulation is the price at which it was last transferred or sold on the blockchain. The last transfer of any coin is likely the last point at which it changes hands, so the price at its time could be equated to its current cost basis. As such, the Realized Cap measures the sum of the cost basis of the BTC supply. Or, put another way, this metric keeps track of the total amount of capital the investors have put into BTC. Related Reading: Bitcoin Supply In Loss Nears 20%: Could This Trigger A Fresh Surg ..
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