The Spent Output Profit Ratio (SOPR) is a metric that calculates the profit or loss made by holders of a digital asset when they sell, based on the difference between the sale price and the acquisition price. The SOPR by Age metric further categorizes this data into different age cohorts, providing a detailed view of the profit or loss realized by holders of supply portions of varying ages. This metric is particularly useful for understanding the distribution of profit-making or loss-making sales across different age cohorts, from hot supply (freshly acquired coins) to cold supply (longer-held coins). For example, it can help answer questions like, 'Are older coins being sold at a profit more frequently compared to newer coins?'

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.