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On-chain Metrics 1 min read

Realized Price

Also known as: Realized Cap per coin

Aggregate cost basis of the market — the average price at which coins last moved on-chain.

What it means

Realized Price is the average on-chain cost basis of all circulating coins.

Realized Price=Realized CapCirculating Supply\text{Realized Price} = \frac{\text{Realized Cap}}{\text{Circulating Supply}}
  • Price above Realized Price → average holder is in profit.
  • Price below Realized Price → average holder is underwater. Historically marks cycle bottoms.

Why it matters

Realized Price acts as a macro support level for Bitcoin. Every major bear market bottom (2015, 2018, 2022) tagged or briefly pierced Realized Price.

Where to find it in Exum

Data Layers → On-chain → Realized Price overlay on the main chart.