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. Realized Price is the related base variant without segmentation.

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. Realized price uses each address's average acquisition price as cost basis. Except for BTC and ETH, wallet-size bands are defined relative to total supply, and an address only moves to another band when its own balance changes. For ETH tokens, burn addresses are excluded.

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)?