Definition. Realized Profit/Loss Ratio is the ratio between all coins moved at a profit and at a loss, computed as Realized Profit / Realized Loss.

Technical. For BTC, all spent outputs are counted, including change. Other assets use an address-based approach, where profit and loss are measured against the spending address's average acquisition price. For ETH and ETH tokens, spent coins are each address's net balance decrease per block, which removes change; for DOGE, TON, TRX and XRP, all transfers are counted. For ETH tokens, burn addresses are excluded.

Interpretation. A reading of 1.0 marks the boundary between profit-dominant and loss-dominant realisation across the day's spent coins.