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Realized Cap Metric

Definition

The realized cap metric is an on-chain valuation method for cryptocurrencies that calculates the total value of all coins at the price they last moved on the blockchain. Unlike market capitalization, which uses the current price for all coins, realized cap provides a more accurate representation of the capital held by long-term investors. It helps assess the aggregate cost basis of the circulating supply. This metric offers insights into overall market profitability and investor behavior.