Definition. Spent Output Profit Ratio (SOPR) segmented by realized profit and loss band, where SOPR is the ratio of sale price to acquisition price across coins spent on a given day. Bands are defined by Fibonacci retracement levels.

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. Bands with a SOPR above 1 captured profitable sales, bands below 1 captured loss-making sales. Surfaces where realized profits and losses concentrate across retracement levels. Answers questions of the form: are most sales occurring at a profit or a loss relative to acquisition cost, and at what levels are those profits or losses concentrated?