Market Capitalization (Market Cap) is a fundamental metric that calculates the total market value of a digital asset at a given time, computed by multiplying the current market price by the total supply of the asset. The Market Cap by Profit and Loss metric further categorizes this data based on unrealized profit and loss levels, using Fibonacci retracement levels to provide a detailed view of the market's valuation. This metric is particularly useful for understanding the distribution of unrealized gains and losses across the market, offering insights into how much of the market cap is held at a profit versus a loss. For example, it can help answer questions like, 'Is the majority of the market cap currently held in assets that are above or below their acquisition cost?'

Note: The breakdown metrics utilize an address-based approach, analyzing transactions and holdings based on individual wallet addresses to facilitate comparability across digital assets and to ensure consistent analysis across various blockchain architectures. This contrasts with the alternative UTXO-based approach for chains like Bitcoin, where unspent transaction outputs are analyzed to categorize asset properties. As such, metrics for UTXO-based assets may show slight deviations if compared across these different computational methods.