CapRealUSD
Capitalization, realized, USD

Definition

The sum USD value based on the USD closing price on the day that a native unit last moved (i.e., last transacted) for all native units.

Dictionary

IDCategorySubcategoryTypeUnitInterval
CapRealUSDMarketMarket CapitalizationProductUSD1 day

Details

Asset-specific details

Examples

  • For an asset whose ledger is:

The realized cap would be $0 + $10,000 + $50,000 = $60,000

  • For assets like ZEC, assuming there’s 5M native units outstanding, 1M private, 4M non-private. If the realized cap of the non-private supply is $1B, the total realized cap is computed as: $1B * (1M * ($1B / (5M - 1M)) = $1.25B

Resource history

Interpretation

Realized capitalization is one of Coin Metrics’ flagship metrics, first introduced in a talk by Nic Carter in 2018. Realized cap aggregates units of supply according to their market price when they last moved on-chain. The original intent was to discount the weight of long-lost coins, in particular in Bitcoin, as a significant fraction of supply is inert and has not moved since 2010 (and can be presumed lost). Additionally, realized cap is a more faithful measure of economic significance for forks with limited uptake, as conventional measures like market cap (see Capitalization, market, current supply, USD) naively presume that the entire stock of coins is liquid and market-available. Interpretations vary, but realized cap is perhaps best-understood as a metric which captures the average cost basis of all current holders. It has been used to devise popular oscillators and derivative metrics.

Availability for assets

AssetAvailable in Community tierAvailable in Pro tier
ADA
ANT
BAT
BCH
BNB
BSV
BTC
BTG
BUSD
CRO
CVC
DAI
DASH
DCR
DGB
DOGE
DRGN
ELF
ENG
EOS_ETH
ETC
ETH
ETHOS
FTT
FUN
GAS
GNO
GNT
GUSD
HT
HUSD
KNC
LEO_ETH
LINK
LOOM
LSK
LTC
MAID
MANA
MCO
MKR
NEO
OMG
PAX
PAXG
PAY
POLY
POWR
PPT
QASH
REP
SAI
SNT
TRX_ETH
TUSD
USDC
USDT
USDT_ETH
USDT_TRX
VTC
WTC
XAUT
XLM
XRP
XTZ
XVG
ZEC
ZRX