Definition. Realized Price segmented by wallet-size cohort, where Realized Price is the average acquisition cost of supply computed from the spot price at the time each unit last moved. Cohorts span from whales to retail investors based on native-asset balance.

Technical. Breakdowns use an address-based approach, analyzing transactions and holdings at the wallet-address level to keep results comparable across digital assets and consistent across different blockchain architectures. This contrasts with the UTXO-based approach available for some chains (e.g. Bitcoin), and cross-method comparisons may show small deviations.

Interpretation. Surfaces how average acquisition cost differs across investor classes, from whales down to retail. Answers questions of the form: is the average acquisition cost higher for larger wallets (whales) than smaller wallets (retail investors)?