Definition. Invested Capital Quantiles divide Realized Cap (invested capital) by cost basis into deciles. Each line is the price below which the given share of invested capital was acquired: the 50% line is the price below which half of all invested capital sits, and the 100% line is the highest cost basis held. Unlike Cost Basis Distribution Quantiles, which weight each coin equally, each address's holdings are weighted by the capital it represents, so the quantiles describe where investors' money sits rather than where coins sit. The related metric Invested Capital Price shows the capital-weighted average of this distribution.

Technical. The metric uses an address-based approach: each address's holdings are assigned its average acquisition price, analyzed at the wallet-address level for consistency across digital assets and blockchain architectures. This contrasts with a UTXO-based approach for chains like Bitcoin, so results may differ slightly from UTXO-based cost-basis metrics.

Interpretation. The highest quantile line below spot bounds the share of invested capital in profit from below. Spot below the 50% line means more than half of invested capital is held at a loss. One series per quantile.