Definition. The total realized loss, segmented by wallet-size cohort. Realized loss is the summed difference between acquisition price and sale price across all spent coins where the sale price was lower than the acquisition price. 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 realized losses concentrate across investor classes, from whales down to retail. Answers questions of the form: are larger wallets (whales) experiencing more losses than smaller wallets (retail investors)?