On-chain data shows the Bitcoin Realized Cap has set a new all-time high (ATH) with the latest rally in the cryptocurrency’s price.
Bitcoin Realized Cap Has Just Achieved A New High
As CryptoQuant founder and CEO Ki Young Ju explained in a post on X, the Bitcoin Realized Cap has set a new record. The “Realized Cap” is an indicator that, in simple terms, tells us about the total amount of investment that the investors have put into the cryptocurrency.
This capitalization model is different from the usual market cap, which calculates the asset’s total valuation by equating each coin’s price in the circulating price to the current spot value.
The Realized Cap instead sets the value of each coin to be the same as the spot price at the time of its last movement. The logic behind this is that the last transfer was probably the last time the coin changed hands, and so the price at its time would be its current cost basis.
Thus, the sum of the cost basis for the entire s
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